[Hot rolled coil inventory accumulation pressure in northern cities intensifies, negative feedback may start]

Overall, in terms of demand, the impact of the slack season is becoming increasingly serious, coupled with the lack of policy stimulus, speculative demand in downstream industries has basically disappeared, and even some terminals have stopped procurement. However, in terms of supply, most steel mills have a low willingness to reduce production. According to SMM research, the impact of hot rolling maintenance next week will be 160,500 tons, a decrease of 45,000 tons compared with this week. Some steel mills are also resuming production on their hot rolling production lines...