China’s steel inventory increases by 4% w-o-w to 8.28 mnt

China’s steel inventory increased by 4% w-o-w to 8.28 mnt as on 30 Dec’22 against 7.93 mnt a week ago.

• Stocks of HRC, CRC rose by 4% and 2% w-o-w to 1.94 mnt and 1.17 mnt, respectively. Similarly, plate stocks went up marginally by 1% w-o-w to 1.05 mnt.
• Wire rod and rebar stocks registered a sharp rise of 8% and 6% w-o-w to 0.71 mnt and 3.40 mnt, respectively.