As of November 20 this year, overall domestic inventories of the five main finished steel products in 20 cities in China totaled 8.75 million mt, down 1.28 million mt or 12.8 percent compared to November 10.
In particular, as of November 20, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC), common medium plate, wire rod and rebar amounted to 1.68 million mt, 1.01 million mt, 0.93 million mt, 1.28 million mt and 3.85 million mt, down 4.5 percent, 12.9 percent, 5.1 percent, 16.3 percent and 16.3 percent, respectively, compared to November 10.
Demand for steel in mid-November was at decent levels, especially in eastern China amid quite good weather conditions. However, as the cold weather has impacted China, the demand for steel has slackened in late November, which may result in increases in stocks in the future.
