As of May 31 this year, overall domestic inventories of the five main finished steel products in China totaled 9.32 million mt, down 1.8 million mt or 16.2 percent month on month, declining for the third consecutive month on month-on-month basis, as announced by the China Iron and Steel Association (CISA).
In particular, as of the given date, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC), common medium plate, wire rod and rebar amounted to 2.08 million mt, 1.63 million mt, 1.03 million mt, 1.27 million mt and 3.32 million mt, respectively decreasing by 5.7 percent, 3.2 percent, 1.0 percent, 21.7 percent and 27.5 percent month on month.