On April 30 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 10.22 million mt, decreasing by 3.6 percent compared to April 20, 1.6 percentage points faster compared to the declining pace recorded in mid-April (April 11-20), as announced by the China Iron and Steel Association (CISA).
The decline in inventory signals that downstream procurement was continuing to deplete stocks and that demand during the traditional peak season of April was quite good. Moreover, stock replenishments by downstream users ahead of the Labor Day holiday (May 1-5) also contributed to the decreases in stocks of the main finished steel products in China.
In particular, as of April 30, domestic inventory of HRC, CRC, medium steel plate, wire rod and rebar decreased by 1.4 percent, 2.7 percent, 2.6 percent, 2.9 percent and 5.2 percent, respectively, all compared to April 20.
