China’s steel inventory rises 3%, w-o-w, to 14.23 mnt

China’s steel inventory rose 3% to 14.23 mnt today as against 13.84 mnt a week ago, as per Lange Steel.

• Stocks of HRC and plates went up by 4% and 2% w-o-w to 2.57 mnt and 1.16 mnt, respectively. However, stocks of CRC remained flat w-o-w at 1.35 mnt.
• Rebar and wire rods stocks increased by 3% w-o-w to 7.41 mnt and 1.75 mnt, respectively.