Latest Update in the SMM Coke Market

【SMM HRC Weekly Balance & Social Inventory Review】Weak Supply and Strong Demand, Social Inventory Destocking in Good Condition This week, the impact of maintenance significantly weakened, HRC supply fluctuated rangebound. During this period, futures first rose and then fell, market transactions experienced a surge, and traders actively destocked, with social inventory showing a good downward trend. Looking ahead, the number of rolling lines under maintenance and planned for maintenance is relatively small in the short term, supply resistance is expected to rebound, but the space will not expand so quickly. Meanwhile, end-use demand remains resilient, and it is expected that national social inventory will continue to destock in the short term...

This week, the SMM survey of 86 warehouses (large sample) nationwide showed HRC social inventory at 4.1936 million mt, down 257,400 mt WoW, a decrease of 5.78% WoW, and down 4.06% YoY on a lunar calendar basis. National social inventory continued to decline this week, with the rate of decrease expanding. By region, the declines in east China, south China, and north China were greater than those in central China and north-east China. [SMM Steel]