Publicado: Oct 21, 2023 10:50
According to SMM, the destocking of construction steel inventories accelerated this week. The thread inventory decreased by 6.40% compared with last week, and the coil inventory decreased by 6.80% compared with last week. On the supply side, according to SMM research, this week in the long process, the amount of building materials maintenance affected was 1.003 million tons, 5.2 thousand tons less than last week, in the short process, the electric furnace start-up rate was 38.79%, 3.32 percentage points higher than last week, the thread supply increased slightly, but still at a low level year-on-year; on the demand side, steel prices rebounded slightly at the beginning of the week, market sentiment warmed up, and the planned volume suppressed by sentiment was released in a concentrated manner, trading atmosphere warmed up, and transaction performance was good. In general, the demand for release is obvious, driving the continued decline in building materials inventories.

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According to SMM, the destocking of construction steel inventories acc - Shanghai Metals Market (SMM)