China maintains high HRC outputt
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Update time : 2024-02-27 16:55:29
After the Spring Festival holiday, as of February 22, 35 hot-rolled enterprises in China produced about 3.56 million tons of hot-rolled coil (HRC) during the week, around 600,000 tons more than the same period of the previous year.
While China's HRC supply still maintains at a relatively high level, the local market demand remains weak. Steel mills transfer their stock to society, which causes an increase in social inventory.
Up to February 23, the Chinese HRC social stock was calculated to be 2.98 million tons. As more new hot-rolled production lines are ready to start operation this year, industry insiders lack confidence in meeting a better market in the near future.
