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

China’s steel inventory fell by 4% w-o-w to 9.54 mnt as on 21 Oct’22 against 9.89 mnt in the previous week.

• Stocks of CRC, plates dropped by 2% each to 1.29 mnt and 1.12 mnt respectively, while HRC stocks dropped marginally by 1% to 2.45 mnt.
• Wire rods and rebars stocks declined sharply by 8% and 5% w-o-w to 0.97 mnt and 3.71 mnt respectively.