China’s steel inventory edges down by 2% w-o-w to 9.89 mnt

China’s steel inventory edged down by 2% w-o-w to 9.89 mnt as on 14 Oct’22 against 10.11 mnt in the previous week.

• Stocks of HRC, plates rose by 4% and 2% w-o-w to 2.48 mnt, 1.14 mnt, while CRC stocks dropped marginally by 1% w-o-w to 1.32 mnt.
• Rebars and wire rod stocks dropped sharply by 6% and 5% w-o-w to 3.90 mnt and 1.06 mnt respectively.