HRC Inventory Continued to Accumulate amid Weak Demand

SHANGHAI, May 4 (SMM) - The total HRC inventory rose 2.3% on a weekly basis last week, with social inventory rising 2.3%, and in-plant inventory held by steel mills adding 2.2%. The increase in total, social and in-plant inventories of HRC all expanded from a week ago. Since April, downstream demand for HRC was weak and the market transactions were thin, which led to a significant increase in the inventory last week. With the arrival of the Labour Day holiday, the market turned cold, and it is expected that the increase in HRC inventory will expand post the holiday.