On January 31 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 11.58 million mt, up 2.29 million mt or 24.7 percent compared to January 20, as announced by the China Iron and Steel Association (CISA).
In particular, as of January 31, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC), common medium plate, wire rod and rebar amounted to 2.17 million mt, 1.49 million mt, 1.23 million mt, 1.36 million mt and 5.33 million mt, up 16.7 percent, 18.3 percent, 12.8 percent, 19.3 percent and 35.3 percent, respectively, all compared to January 20.