China’s steel inventory decreases by 3% w-o-w

China’s steel inventory fell by 3% w-o-w to 9.27 mnt as on 28 Oct’22 against 9.54 mnt in the previous week.

• Stocks of HRCs dropped by 3% to 2.37 mnt while those of plates and CRCs went down by 2% to 1.10 mnt and 1.27 mnt respectively.
• Wire rods stocks fell sharply by 6% to 0.91 mnt and rebar stocks declined by 2% to 3.62 mnt.