China’s steel inventory falls 2%, w-o-w, to 13.65 mnt

China’s steel inventory fell by 2% to 13.65 mnt today against 13.97 mnt in the previous week, as per Lange Steel.

• Stocks of HRC and CRC rose by 2% each w-o-w to 2.67 mnt and 1.35 mnt respectively while plate stocks inched up by 1% w-o-w to 1.19 mnt.
• Stocks of rebar and wire rods declined sharply by 5% each w-o-w to 6.76 mnt and 1.68 mnt respectively.