As of January 26 this year, overall domestic inventories of the five main finished steel products in China totaled 8.35 million mt, up 816,000 mt or 10.8 percent month on month, as announced by the China Iron and Steel Association (CISA).
In particular, as of the given date, domestic inventories of hot rolled coil (HRC), common medium plate, wire rod and rebar amounted to 1.42 million mt, 1.04 million mt, 940,000 mt and 3.78 million mt, respectively increasing by 10.1 percent, 8.3 percent, 13.9 percent and 16.4 percent month on month. Domestic inventories of cold rolled coil (CRC) amounted to 1.18 million mt as of January 26, decreasing by 3.3 percent month on month.