On July 20 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 9.62 million mt, decreasing by 0.7 percent compared to July 10, compared to a rise of 3.6 percent recorded in early July (July 1-10), as announced by the China Iron and Steel Association (CISA).
Steelmakers incurred losses in the given period, causing them to reduce production, which contributed to the declining inventories in the given period.
In particular, as of July 20, domestic inventories of HRC rose by 0.4 percent, while inventories of CRC, medium steel plate, wire rod and rebar decreased by 2.8 percent, 1.8 percent, 1.2 percent and 0.2 percent, respectively, all compared to July 10.
