China’s steel inventory drops 2%, w-o-w, to 13.97 mnt

China’s steel inventory fell by 2% to 13.97 mnt today against 14.28 mnt in the previous week, as per Lange Steel.

• Stocks of HRC and CRC edged down by 1% each w-o-w to 2.61 mnt and 1.33 mnt respectively while plate stocks dropped by 2% w-o-w to 1.18 mnt.
• Stocks of rebar fell by 4% w-o-w to 7.08 mnt, while wire rod stocks inched up 1% w-o-w to 1.77 mnt.