As of June 1, the aggregate inventory of the five main finished steel products (rebar, wire rod, hot rolled coil (HRC), cold rolled coil (CRC) and hot rolled plate (HRP)) in 26 major markets in China totaled 15.615 million mt, down 177,000 mt week on week but up 1.19 million mt year on year, indicating a decrease for the fifteenth consecutive week, as reported by the China-based Hexun financial news website. In particular, the aggregate inventory of rebar and wire rod recorded an increase of 1.749 million mt year on year.
Meanwhile, on week-on-week basis, as of June 1 rebar inventory declined by 82,000 mt, wire rod inventory was down 27,000 mt, HRC inventory decreased by 49,000 mt, while CRC and HRP inventories indicated respective decreases of 8,000 mt and 12,000 mt.