SMM Hot Rolled Coil Inventory: Stable Prices Stimulate Demand, Inventory Reduction Expanded

SMM Steel December 7th News: This week, the total inventory of hot-rolled coils is 3.3482 million tons, a decrease of 0.1373 million tons from last week, down 3.94% from the previous week, and up 35.78% year-on-year. This week, the reduction in hot-rolled coil inventory has slightly expanded, with a significant decrease in social inventories and a slight decrease in factory inventories. This week, domestic hot-rolled coil production decreased slightly compared to the previous week, with factory inventories returning to a reduction. In terms of demand, recent spot prices for hot-rolled coils have remained stable, and downstream terminal purchases have increased in enthusiasm, with demand performance still decent. The trend of reduction in social inventories has expanded, and overall, the reduction in total hot-rolled coil inventory this week has significantly expanded.