China’s steel inventory drops 2% w-o-w to 14.12 mnt

China’s steel inventory dropped 2% to 14.12 mnt today against 14.34 mnt a week ago, as per Lange Steel.

• Stocks of CRC and plates inched up by 1% and 2% w-o-w to 1.36 mnt and 1.14 mnt respectively. However, HRC stocks fell by 2% to 2.39 mnt.
• Stocks of rebar and wire rods fell 2% and 4% w-o-w to 7.42 mnt and 1.81 mnt respectively.