China’s total trade-level inventory in terms of the five major steel categories (HRC, CRC, mid-plate, wire rods and rebar) across its 20 key cities in mid-Aug’21 was at 11.92 million tonnes (mnt), up 10,000 tonnes (t) or a marginal 0.1% from the previous 10-day tally, remaining largely stable, as per data released by China Iron and Steel Association (CISA). The inventory is 4.62 mn t or 63% up from level seen at the beginning of the year and down 260,000 t or 2% compared to the same period of last year.
However, in mid-Aug’21, when analysed across seven regions, it was seen that, except for eastern and south-western China, where inventory level increased, all other regions witnessed decline. To be specific, there was a higher 100,000 t or 3% increase in inventory in eastern China, compared to 20,000 t or slight 1% increase in inventory in the south-west region.
In the north-east, inventory was down by 30,000 t or 4.8%. In the north-west, the same was down by 30,000 t or 5%. South China noticed inventory reduction of 30,000 t or 1% while north China saw the same drop by 10,000 t or 0.9%. Central China saw inventory decline of 10,000 t or 0.6%.
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