China: Steel inventory drops further by 3% w-o-w

China’s steel inventory stood at 8.5 million tonnes (mn t) on 24 Dec’21, down 3% against 8.72 mn t a week ago, as per Lange Steel data.

• Steel sheet stocks (HRC, CRC and plates) aggregated 4.3 mn t, down 2% against 4.39 mn t last week.
• Construction steel stocks (rebar and wire rod) dropped 3% to 4.2 mn t on the week.