As of April 20, the aggregate inventory in
China of the main five finished steel products (
rebar,
wire rod, hot rolled coil (
HRC), cold rolled coil (
CRC) and
plate) totaled 17.063 million mt, down 387,000 mt week on week and indicating a ninth consecutive week of decline, according to Chinese news agency Sina Finance.
Meanwhile, the inventory volume in question was up 1.058 million mt compared with the same date last year. In April, the rate of decline of steel inventory has accelerated, with a decrease of 300,000 mt seen in the first two weeks of the month.
According to the
China Iron and Steel Association (CISA), the average daily
crude steel output in
China in early April (April 1-10) totaled 2.03 million mt, constituting an all-time high.