China’s finished steel inventory increases slightly

As of December 21 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 11.773 million mt, up 48,000 mt compared to the previous week and down 998,000 mt year on year, according to the China Iron and Steel Association (CISA).

 

In particular, inventory of rebar indicated increases of 52,000 mt week on week and 355,000 mt year on year. As of the same date, hot rolled coil inventory in China was down 32,000 mt compared to the previous week, while wire rod inventory indicated a week-on-week increase of 22,000 mt. Domestic inventories of cold rolled coil and plate were respectively up 100 mt and 6,000 mt week on week.

 

China’s total finished steel supply and demand have been more or less in equilibrium as the end of the year approaches. It is anticipated that China’s total finished steel inventory will witness a decline in January.