[SMM Analysis] Month-End Cargo Pick-Up and Reduced Arrivals Lead to Passive Destocking of Stainless Steel Social Inventory

[SMM Analysis] Month-End Cargo Pick-up Combined with Reduced Arrivals Leads to Passive Destocking of Stainless Steel Social Inventory SMM, October 29: This week, stainless steel social inventory continued its downward destocking trend, with total inventory across the two core markets of Wuxi and Foshan down 1. 86% WoW, as the inventory midpoint continued to shift lower. This week's destocking of stainless steel social inventory was mainly driven by low arrivals on the supply side, coupled with phased month-end cargo.