China: Steel inventory falls by 3% to 14.4 mnt w-o-w

China’s steel inventory fell by 3% to 14.48 mnt today, compared to 14.87 mnt in the previous week, as per Lange steel.

• Stocks of HRC and plates dropped by 3% and 2% respectively to 2.33 mnt and 1.05 mnt, while CRC stocks remained flat at 1.35 mnt w-o-w.
• Stocks of rebar and wire rods fell by 3% and 2% to 7.82 mnt and 1.93 mnt respectively against last week.