As of September 27 this year, overall domestic inventories of the five main finished steel products in China totaled 13.31 million mt, down 710,000 mt or 5.1 percent month on month, 5.2 percentage points lower compared to the month-on-month decrease rate reported in August, 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) and common medium plate amounted to 1.78 million mt, 1.94 million mt and 980,000 mt, indicating declines of 6.1 percent, 3.1 percent and 2.9 percent month on month, respectively. Moreover, rebar inventories were down 7.3 percent month on month, falling to 5.59 million mt. Wire rod inventories also decreased, though at a slower rate of 2.1 percent, to 3.02 million mt.
In August, domestic inventories of hot rolled coil, wire rod and rebar had risen by 15.5 percent, 7.3 percent and 17.2 percent, while inventories of cold rolled coil and common medium plate had decreased by 0.6 percent and 3.0 percent, all month on month, respectively.