China’s steel inventory falls 4% w-o-w to 10.54 mnt

China’s steel inventory fell by 4% w-o-w to 10.54 mnt as on 26 Aug’22 against 11.03 mnt in the previous week, as per Lange Steel.

• Stocks of HRC and plates declined by 4% and 2% w-o-w to 2.47 mnt and 1.15 mnt respectively, while CRC stocks remained stable w-o-w at 1.36 mnt.
• Rebar and wire rod stocks dropped by 7% and 3% w-o-w to 4.30 mnt and 1.27 mnt respectively.