China’s HRC inventories in social warehouses and at steelmakers continued to fall this week.
HRC stocks down about 4.4% from the previous week
Gerber Steel data showed that HRC inventories fell by about 4.4% in the week ended March 25 from the previous week and about 31.80% from a year earlier.
HRC stocks in social warehouses fell by 156,700 mt week-on-week. This was about 27.50% lower than the same period last year. Trading was active this week due to further improvement in end-user demand, which led to a decline in HRC inventories.
Read also:
- China: Inner Mongolia shuts down blast furnaces, converters and coking plants
- Tangshan: Important steel region in China facing one-year production cut?
- Production reductions: Operating rates of Chinese blast furnaces continue to fall (now at 85%)
Inventories at Chinese steelmakers fall by around 2.1%
Inventories at Chinese steelmakers totaled 1.09 million mt, down 2.1% from the previous week and 40.80% from a year earlier. The decline in HRC inventories at mills eased significantly this week as some steel mills affected by environmental regulations gradually resumed production. Five steelmakers recovered from maintenance this week.
HRC demand continues to rise due to high end-user demand
Steelmakers are likely to increase HRC production due to high profits. Robust orders from HRC end users will boost their demand for HRC. Prices are expected to continue to rise due to positive fundamentals.
Source: gerber-steel.com
We at the Gerber Group have been trading in stainless steel worldwide for over 20 years. We are your experts when it comes to purchasing, import, logistics and services. Information is a vital part of this. Because only then can you and we make the right decisions. Do you have any questions? Contact us now.
Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
