As of April 26, inventory of the main finished steel products (plate, hot rolled coil (HRC), cold rolled coil (CRC), rebar and wire rod) in the major steel markets in China totaled 20.236 million mt, down 607,000 mt week on week and registering the sixth week-on-week decrease in a row, according to the China Iron and Steel Association (CISA). The week-on-week decrease margins in inventory have increased in the latest two weeks. Meanwhile, the total finished steel inventory in the Chinese market as of the given date was 3.4587 million mt higher compared to the same time last year.
In particular, in the week ending April 26 inventory of wire rod decreased by 119,000 mt week on week. Meanwhile, inventories of cold rolled coil and hot rolled coil in China both decreased by over 30,000 mt and nearly 10,000 mt respectively, while domestic inventory of plate was down by 40,000 mt, all on week-on-week basis.