HRC Prices may Remain Weal amid Falling Costs

SHANGHAI, Mar 24 (SMM) - On the demand side, the growth rate of terminal demand has slowed down. In terms of inventory, the social inventory of HRC across 69 warehouses in China surveyed by SMM was 4.02 million mt, a decrease of 4.94% or 208,900 mt from last wee . On the supply side, the weekly HRC output according to SMM statistics increased 86,200 mt from last week. With the impact of maintenance weakening, it is expected that the HRC output will increase further next week. On the whole, under the weak demand and high inventory, the short-term HRC prices will remain weak amid falling cots. At the same time, market players still need to pay attention to the development of macro crisis.