China’s steel inventory rises 2% w-o-w to over 10 mnt

China’s steel inventory rose by 2% w-o-w to 10.16 mnt as on 16 Sept’22 against 9.99 mnt last week, as per a report.

• Stocks of HRCs and plates remained largely stable w-o-w at 2.30 mnt and 1.07 mnt respectively, while CRC stocks edged down by 1% to 1.33 mnt.
• Rebar stocks increased marginally by 4% and 2% w-o-w to 4.19 mnt and 1.27 mnt, respectively.