On October 31 this year, overall domestic inventories of the five main finished steel products in 20 major cities in China totaled 9.69 million mt, down 480,000 mt or 4.7 percent compared to October 20, as announced by the China Iron and Steel Association (CISA).
In particular, as of October 31, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC) and wire rod amounted to 1.58 million mt, 1.17 million mt and 1.74 million mt, down 3.1 percent, 0.8 percent and 1.7 percent, respectively. Inventories of rebar dropped by the highest margin, by 8.9 percent, to 4.29 million mt, while stocks of common medium plate amounted to 0.91 million mt, up 3.4 percent. All comparisons are with inventory levels on October 20.