SMM Hot Rolled Coil Inventory: Concentrated Maintenance Affects, Inventory Reduction Widens This Week

SMM Steel December 28th News: The total inventory of hot-rolled coils this week was 3.0724 million tons, a decrease of 101,000 tons from last week, a decrease of 3.18% month-on-month, and an increase of 2.76% year-on-year. This week, the total inventory of hot-rolled coils still maintained a pace of reduction, with a slight narrowing of the decline in social inventory, affected by the maintenance of steel mills, and the factory inventory changed from an increase to a decrease. This week, some steel mills in East China and North China carried out additional maintenance, leading to a month-on-month decrease in hot-rolled coil production and a change from an increase to a decrease in factory inventory. In terms of demand, coil prices stopped falling and rebounded, and terminal fears of high prices spread, leading to a narrowing of the decline in social inventory. Under the comprehensive impact, the total inventory of hot-rolled coils continued to show a good trend of digestion this week.