As of March 15, 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 22.508 million mt, up 192,000 mt week on week and constituting the 13th consecutive week-on-week increase, according to the China Iron and Steel Association (CISA). Meanwhile, the total finished steel inventory in the Chinese market as of the given date was 4.096 million mt higher compared to the same time last year.
In particular, in the week ending March 15 inventory of rebar rose for the 16th consecutive week on week-on-week basis. Meanwhile, wire rod inventory in China increased by 70,000 mt week on week. As of March 15, cold rolled coil inventory and hot rolled coil inventory in China increased slightly, while domestic inventory of plate was down by over 50,000 mt, all on week-on-week basis.