China: Steel inventory at mills drops sharply in late-Aug’22

Steel inventory at key Chinese mills stood at 15.94 mnt in late-Aug’22, a m-o-m decrease of 1.38 mnt or 8%, as per China Iron and Steel Association (CISA) data. Inventory rose by 4.64 mnt or 41.13% compared with the beginning of this year while the volume was up by 2.51 mnt, or 18.74% compared with late-Aug’21.