China’s steel inventory continues to drop by 4% w-o-w

China’s steel inventory consecutively dropped by 4% w-o-w to 8.20 mnt as on 18 Nov’22 against 8.55 mnt in the previous week.

• Stocks of HRCs fell by 5% to 2.02 mnt while those of CRCs remained unchanged to 1.22 mnt. Plates dropped by 3% at 1.06 mnt.
• Rebars were down by 4% to 3.20 mnt and wire rods stocks declined by 10% to 0.70 mnt.