HRC social inventories inch up 0.5% on week

SHANGHAI, Sep 20 (SMM) – Social inventories of hot-rolled coil (HRC) in China inched up this week, after declining for five weeks in a row, rising 0.5% from a week earlier to stand at 2.34 million mt as of Thursday September 19, showed SMM data.

Social stocks rose 7.9% from a year ago.

HRC inventories across steelmakers also grew this week, increasing by 1.4% to 975,900 million mt, standing 2% lower than the same period last year.

Overall HRC stocks across social and in-plant warehouses in China came in at 3.31 million mt as of September 19, up 0.8% from a week ago and 4.8% from a year ago.