China’s steel inventory falls 4%, w-o-w, to 12.80 mnt

China’s steel inventory fell by 4% to 12.80 mnt as on 22 July against 13.37 mnt in the previous week, as per Lange Steel.

• Stocks of HRC, CRC and plates remained largely stable w-o-w at 2.75 mnt, 1.37 mnt and 1.21 mnt respectively.
• Stocks of rebar and wire rods declined sharply by 7% each w-o-w to 5.94 mnt and 1.52 mnt respectively.