China’s steel inventory falls 5% w-o-w

China’s steel inventory fell by 4% w-o-w to 9.58 mnt on 30 Sep’22 against 10.03 mnt last week.

• Stocks of HRCs and CRCs dropped by 4% and 2% w-o-w to 2.20 mnt and 1.29 mnt, respectively, while plate stocks remained stable w-o-w at 1.06 mnt.
• Wire rod and rebar stocks declined sharply by 8% and 6% w-o-w to 1.11 mnt and 3.92 mnt respectively.