China: Steel inventory remains largely flat on week

China’s steel inventory stood at 8.47 million tonnes (mn t) on 31 Dec’21, largely flat against 8.50 mn t a week ago, as per Lange Steel data.

• Steel sheet stocks (HRC, CRC and plates) were at 4.27 mn t, a decline of 1% against 4.30 mn t last week.
• Construction steel stocks (rebar and wire rod) remained stable at 4.20 mn t on the week.