On August 10 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 9.86 million mt, increasing by 0.6 percent compared to July 31, compared to a rise of 1.9 percent recorded in late July (July 21-31), as announced by the China Iron and Steel Association (CISA).
Demand for steel has remained sluggish in the traditional off-season and also due to typhoons hitting China, which contributed to the increases in stocks of finished steel in the given period.
In particular, as of August 10, domestic inventories of HRC, wire rod and rebar rose by 0.9 percent, 1.2 percent and 1.2 percent, respectively, inventories of CRC declined by 1.4 percent, while inventories of medium steel plate remained stable, all compared to July 31.
