China: Steel inventory drops 2% w-o-w to 14.87 mnt

China’s steel inventory dropped 2% to 14.87 mnt on 22 Apr’22 compared with 15.19 mnt a week ago, as per Lange Steel.

• Stocks of HRC, CRC and plate inched down by 1% each to 2.41 mnt, 1.35 mnt and 1.07 mnt respectively w-o-w.
• Stocks of rebar and wire rod decline by 2% and 4% w-o-w to 8.08 mnt and 1.97 mnt respectively.