On March 23, the total market inventory of five main steel product categories (rebar, wire rod, hot rolled coil (HRC), cold rolled coil (CRC) and plate) in 26 regions of China came to 18.171 million mt, down 241,000 mt week on week, but up 280,000 mt year on year, as reported by Chinese media sources.
The decline in inventory was slower in the week in question as compared to the previous week. In the week ending March 23, the inventory level remained above 18 million mt for the seventh consecutive week.