On May 31 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 9.39 million mt, decreasing by 1.6 percent compared to May 20, 3.0 percentage points slower compared to the declining pace recorded in mid-May (May 11-20), as announced by the China Iron and Steel Association (CISA).
The continuing decrease in inventory signals that downstream procurement consumed stocks, while the pace of the decline slowed down in the given period, reflecting the gradual slackening of demand from downstream users.
In particular, as of May 31, domestic inventory of HRC rose by 2.9 percent, inventory of CRC, wire rod and rebar decreased by 0.7 percent, 6.0 percent and 3.7 percent, respectively, while inventory of medium steel plate remained stable, all compared to May 20.
