Lecong Hot Rolled Coil Inventories Drop Seven Weeks Straight: Will the Downward Trend Persist?

[SMM Hot Topic: Lecong Hot Rolled Coil Prices Decline for Seven Consecutive Weeks - Will the Subsequent Inventory Reduction Continue?]

Lecong hot rolled coil has finally ended its "90+" high inventory period that lasted from early March to the end of September, and has seen a continuous seven-week inventory reduction since early September. This week, the inventory of Lecong hot rolled coil stands at 768,700 tonnes, a decrease of 65,200 tonnes or 7.82% from the previous week. Compared to the same period last year by the Gregorian calendar, there is an increase of 12.63%, while by the Lunar calendar, there is a decrease of 3.00%. The inventory in Lecong has finally fallen below 800,000 tonnes and is gradually converging with the levels of the same period in previous years. Whether the downward trend in Lecong's inventory can continue, let's take a look at the fundamental structure of Lecong hot rolled coil...