[SMM HRC Weekly Balance] Steel Mill Production Declined WoW, Social Inventory Continued to Decrease This Week

01

This Week's HRC Production Decreased MoM

This week, steel mill maintenance was concentrated in east China and central China, leading to a MoM decline in HRC production.

02

This Week's HRC Social Inventory Decreased MoM

This week, according to SMM statistics, the HRC social inventory across 86 warehouses nationwide (large sample) stood at 2.8476 million mt, down 121,700 mt MoM (-4.1%) and down 20.26% YoY based on the lunar calendar.

This week, except for a slight inventory buildup in central China, destocking occurred in east China, south China, north China, and north-east China, with the largest decline in east China.

03

This Week's HRC In-Plant Inventory Increased MoM

This week, steel mill inventory saw a slight MoM increase.

Note:

1. SMM's weekly HRC production/apparent demand/inventory data are based on a sample of 40 steel mills and 86 mainstream market warehouses nationwide.

2. As of October 31, 2024, SMM's weekly HRC production and steel mill inventory data covered 85% of the national HRC capacity.

3. SMM conducts surveys every Wednesday and releases the data on Thursday mornings.