On February 10 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 13.41 million mt, up 1.83 million mt or 15.8 percent compared to January 31, as announced by the China Iron and Steel Association (CISA).
In particular, as of February 10, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC), common medium plate, wire rod and rebar amounted to 2.24 million mt, 1.53 million mt, 1.29 million mt, 1.69 million mt and 6.66 million mt, up 3.2 percent, 2.7 percent, 4.9 percent, 24.3 percent and 25.0 percent, respectively, all compared to January 31.
In early February, the rising pace of inventories of the five main finished steel products slowed down, while rebar was the product which indicated the biggest increase in inventory in the given period.