As of November 23 this year, inventory of the main finished steel products (plate, hot rolled coil (HRC), cold rolled coil (CRC), rebar and wire rod) in 26 major steel markets in China totaled 11.927 million mt, down 165,000 mt as compared to the previous week and constituting the lowest level since December 2009, according to the China Iron and Steel Association (CISA). Meanwhile, China’s total finished steel inventory on the date in question was down 1.209 million mt year on year.
China’s finished steel inventory indicated a decline in the week ending November 23 influenced by the snowy weather in northern China. Nevertheless, ports in northern China still witnessed relatively higher inventory in finished steel amid unfavorable transportation conditions. It is thought that winter seasonal factors may boost finished steel inventory in China in the coming days.