In early January, steel social inventories increased by 7.1% month-on-month

Haihao Group closely monitors the fluctuations in the steel market and shares insights with our valued clients. In early January, the social inventory of steel in five major varieties across 21 cities increased by 520,000 tons, marking a 7.1% rise compared to the previous period. This upward trend has persisted for two consecutive weeks, with a widening amplitude. However, it is worth noting that this inventory is still 650,000 tons lower, indicating a 7.7% decrease compared to the same period in 2023.

Analyzing the regional distribution, the East China region witnessed the most significant increase in steel inventory, rising by 120,000 tons, a 5.7% surge and the highest increment among all regions. Following closely, the North China region experienced an 11.6% surge with an additional 110,000 tons, demonstrating the highest growth rate. Other regions, including Southwest, South, Central, Northwest, and Northeast, also observed varying degrees of inventory increase.

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Among the five major steel varieties, rebar saw the largest increment in social inventory, while wire rod exhibited the highest growth rate. In early January, the social inventory of hot-rolled coil reached 1.47 million tons, increasing by 30,000 tons, a 2.1% rise. This marks a reversal from a declining trend and represents a 14.5% decrease compared to the same period in 2023. Cold-rolled coil inventory reached 1.06 million tons, rising by 30,000 tons, a 2.9% increase, and reflecting a turnaround from a previous decrease, with a 13.1% reduction compared to the same period in 2023. Medium and heavy plates reached 1.01 million tons, increasing by 70,000 tons, a 7.4% rise, showcasing a shift from a decrease and a 1.0% reduction compared to the same period in 2023. Wire rod inventory reached 920,000 tons, increasing by 90,000 tons, a 10.8% rise, demonstrating an expanded inventory increment and a 1.1% reduction compared to the same period in 2023. Rebar inventory reached 3.35 million tons, increasing by 300,000 tons, a 9.8% rise, and showing a widened inventory increment. This represents a 6.2% decrease compared to the same period in 2023.

Haihao Group remains committed to providing timely market information and expert insights to empower our clients in navigating the dynamic steel market.