China’s steel inventory falls by 4% w-o-w

China’s steel inventory fell by 4% w-o-w to 8.89 mnt as on 4 Nov’22 against 9.27 mnt in the previous week.

• Stocks of HRCs dropped by 5% to 2.24 mnt while those of CRCs went down by 2% to 1.24 mnt. However, plates remained unchanged at 1.10 mnt.
• Rebars and wire rods stocks fell by 5% to 3.45 mnt and 0.86 mnt respectively.