China’s steel inventory falls 2% w-o-w to 13.37 mnt

China’s steel inventory fell by 2% to 13.37 mnt today against 13.65 mnt in the previous week, as per Lange Steel. Stocks of HRCs and plates rose by 3% and 2% w-o-w to 2.75 mnt and 1.21 mnt respectively while CRC stocks inched up by 1% w-o-w to 1.37 mnt. Stocks of rebar and wire rods declined sharply by 5% and 3% w-o-w to 6.42 mnt and 1.63 mnt respectively.