As of September 10 this year, overall domestic inventories of the five main finished steel products in 20 cities of China totaled 12.43 million mt, up 80,000 mt or 0.6 percent compared to August 31, but down 7.78 million mt or 38.5 percent compared to the highest level this year recorded on March 10.
In particular, as of September 10, domestic inventories of hot rolled coil (HRC), common medium plate and rebar in China amounted to 1.86 million mt, 0.89 million mt and 6.59 million mt, increasing by 2.8 percent, 2.3 percent and 1.5 percent, though inventories of cold rolled coil (CRC) and wire rod totaled 1.12 million mt and 1.97 million mt, down 0.9 percent and 3.9 percent, respectively, compared to August 31.
Inventories of steel have indicated rises in the given period, exerting a negative impact on steel prices, as market players thought the demand for steel has not been as good as what they expected for the traditional peak season.