As of November 25 this year, overall domestic inventories of the five main finished steel products in China totaled 10.64 million mt, down 1.92 million mt or 15.3 percent month on month, 9.7 percentage points faster than the month-on-month decrease rate of 5.6 percent recorded as of October 24, as announced by the China Iron and Steel Association (CISA).
In particular, as of November 25, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC) and common medium plate in China amounted to 1.54 million mt, 1.91 million mt and 0.96 million mt, decreasing by 16 percent, 0.6 percent and 1.2 percent, month on month, respectively. Moreover, wire rod and rebar stocks dropped by 17.3 percent and 22.3 percent month on month to 2.45 million mt and 3.79 million mt.
The decreases seen in inventory levels of all main steel products have exerted a positive impact on their prices, with the Chinese steel market moving on an overall uptrend in the given period.