China: Steel mills’ inventory increases in early-August

Steel inventory at key Chinese mills stood at 17.05 mnt in early-August, a m-o-m increase of 0.45 mnt, or 2.73%, as per China Iron and Steel Association (CISA) data. Inventory increased by 5.75 mnt or 50.93% compared with the beginning of this year and up by 2.42 mnt, or 16.61% compared with early-Aug’21.