China’s steel inventory drops by 3% w-o-w to 9.99 mnt

China’s steel inventory dropped by 3% w-o-w to 9.99 mnt as on 9 Sept’22 against 10.30 mnt last week, as per Lange Steel.

• Stocks of HRC fell sharply by 5% w-o-w to 2.29 mnt while those of plates were down by 4% tp 1.07 mnt. CRC stocks edged down by 1% to 1.34 mnt.
• Rebar stocks fell by 3% to 4.04 mnt while wire rod stocks were down 1% to 1.25 mnt.