【SMM Hot-rolled Inventory: Overall Inventory Ends 6-week Decline】

SMM Steel and Iron News on January 4th: The total inventory of hot-rolled coils this week was 3.0724 million tons, a decrease of 0.101 million tons from last week, a decrease of 3.18% month-on-month, and an increase of 2.76% year-on-year. As we enter 2024, the overall inventory of hot-rolled coils has ended the 6-week decline, with the warehouse inventory also turning from a decline to an increase. Steel mills are actively shipping out products, leading to a slight reduction in warehouse inventory. The impact of ongoing maintenance at some steel mills continues to affect the production of hot-rolled coils, and the inventory in the mills decreased slightly. On the demand side, coil prices are fluctuating, and the resumption of shipping schedules at the beginning of the year and the impact of the New Year holiday have led to a reversal in the decline of warehouse inventory compared to last week. Overall, this week's hot-rolled coil inventory has ended the continuous 6-week decline.