China’s steel inventory falls 2% w-o-w

China’s steel inventory fell 2% to 14.34 mnt on 13 May’22 compared to 14.59 mnt a week ago, as per Lange Steel.

• Stocks of HRC and plates rose by 3% and 2% w-o-w to 2.43 mnt and 1.12 mnt respectively, while CRC stocks dropped 2% to 1.35 mnt.
• Stocks of rebar and wire rods dropped 3% and 2% w-o-w to 7.55 mnt and 1.89 mnt respectively.