China’s steel inventory falls 2%, w-o-w, to 14.27 mnt

China’s steel inventory fell 2% to 14.27 mnt today compared to 14.51 mnt a week ago, as per Lange Steel. Stocks across product catergories –

• CRC: 1.34 mnt, up 1% w-o-w.
• Plates: 1.20 mnt, up 1%.
• HRC: 2.64 mnt, largely stable.
• Rebar: 7.34 mnt, down 3%.
• Wire rods: 1.75 mnt, down 4%.