China: Steel mill inventories drop sharply in late May

Steel inventories at key iron and steel enterprises in China were 1.79 mnt in late May’22, as per data from the China Iron and Steel Association (CISA). Total inventory at CISA mills decreased 2.03 mnt, or 10.19% from the previous month. However, compared with the beginning of the year, inventories increased 6.64 mnt and vis-a-vis the same period last year the rise was 33.76%.