China’s steel inventory jumps 14%, w-o-w, to 10.67 mnt

China’s steel inventory, including steel sheets and construction steel, rose 14% to 10.67 mnt today compared to 9.37 mnt a week ago, as per Lange Steel.

• Sheet stocks, comprising HRC, CRC and plates, jumped 4% on the week to 4.55 mnt against 4.39 mnt a week back.
• Construction steel, including rebar and wire rod, stocks surged 23% to 6.12 mnt today compared to 4.98 mnt last week.