As of May 24, inventories 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 indicated decreases, according to the China Iron and Steel Association (CISA).
The total finished steel inventory in the Chinese market as of the given date was 12.8127 million mt, down 9.3 percent or 1.3115 million mt compared to the same date last month. Meanwhile, the total finished steel inventory at Chinese ports as of May 24 was 1.345 million mt, down 3.0 percent or 41,000 mt month on month.
Accordingly, the aggregate finished steel inventory in China as of the date in question was 14.1577 million mt, down 8.7 percent or 1.3525 million mt month on month.