China’s steel inventory falls by 3% w-o-w

China’s steel inventory fell by 3% w-o-w to 7.96 mnt as on 25 Nov’22 against 8.20 mnt in the previous week.

• Stocks of HRC fell sharply by 6% w-o-w to 1.90 mnt and CRC marginally by 1% w-o-w to 1.21 mnt. Meanwhile, stocks of plates remained unchanged w-o-w at 1.06 mnt.
• Wire rods and rebars stocks declined by 7% and 2% w-o-w to 0.65 mnt and 3.14 mnt respectively.