On July 31 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 9.8 million mt, increasing by 1.9 percent compared to July 20, compared to a decline of 0.7 percent recorded in mid-July (July 11-20), as announced by the China Iron and Steel Association (CISA).
Demand for steel slackened further in the traditional off-season amid very high temperatures, resulting in slight rises in stocks of finished steel in the given period.
In particular, as of July 31, domestic inventories of HRC, wire rod and rebar rose by 4.0 percent, 2.5 percent and 2.9 percent, while inventories of CRC and medium steel plate decreased by 1.4 percent and 2.8 percent, respectively, all compared to July 20.
