HRC production declined WoW
HRC production at 41 steel mills surveyed by SMM reached 3.4447 million mt in the week ending Apr 25, down 24,100 mt. The output dropped slightly due to rolling line maintenance at steel mills in north China. Some steel mills in east China will release maintenance arrangements next week, and the production may continue to fall in next one to two weeks.
The weekly decline in social inventory narrowed
SMM statistics showed the social inventory of HRC in 86 warehouses nationwide totaled 4.0239 million mt as of Apr 25, down 41,800 mt or 1.03% WoW. Except for the south China market, inventory declined in north China, east China, northeast China and central China.
HRC in-plant inventory continued to drop
HRC in-plant inventory reached 1.1816 million mt as of Apr 25, down 37,700 mt WoW. Some steel mills adjusted shipment pace, and in-plant inventory continued to drop.
As of January 1, 2024, SMM’s weekly HRC production and in-plant inventory covered 81% of China’s HRC capacity.
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