As of March 29, 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 21.927 million mt, down 154,000 mt week on week and registering the second week-on-week decrease in a row, 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 4.039 million mt higher compared to the same time last year.
In particular, in the week ending March 29 inventories of rebar and wire rod both decreased by 83,000 mt week on week. Meanwhile, cold rolled coil inventory and hot rolled coil inventory in China increased by just 12,000 mt and 10,000 mt respectively, while domestic inventory of plate was down by 10,000 mt, all on week-on-week basis.