As of April 30 this year, overall domestic inventories of the five main finished steel products in 20 major cities in China totaled 16.24 million mt, down 0.93 million mt or 5.4 percent compared to April 20. Nevertheless, they were still 9.43 million mt or 138.3 percent higher compared to the beginning of this year, according to the data published by the China Iron and Steel Association (CISA).
In particular, as of April 30, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC), common medium plate, wire rod and rebar in China amounted to 2.38 million mt, 1.49 million mt, 0.92 million mt, 3.14 million mt and 8.31 million mt, decreasing by 5.3 percent, 2.7 percent, 9.9 percent, 1.5 percent and 6.8 percent compared to April 20, respectively.