China’s warehouse and outside of mill steel inventory, as surveyed by the end of the first 10-days of Sept’21, in five major steel categories across 20 key cities was at 11.38 million tonnes (mn t), down 360,000 tonnes (t) or 3.1% from the previous 10-day tally, showing continuous inventory drawdown.
The five categories surveyed include HRCs, CRCs, mid-plates, wire rods and rebar.
The inventory was 4.08 mn t or 56% up from the levels seen at the beginning of the year and down 1.05 mn t or 8.4% compared to the same period last year.
In the first 10-days of Sept, except for North China, the balance six regions witnessed declines in inventory by varying proportions. To be specific, stocks in South China decreased by 160,000 t or 6%, marking the highest decline amongst the seven regions surveyed. Inventory in East China reduced by 120,000 t or 3.6%. North East China noticed a reduction by 50,000 t or was down 9%. Inventory in the North West China region reduced by 40,000 t or was down 7%. Central China saw a decline by 30,000 t or by 2% while South West China was down 20,000 t or 1.1%. North China stock levels increased 60,000 t or were up 5.2%.
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