As of February 20 this year, overall domestic inventories of the five main finished steel products in 20 cities of China totaled 14.79 million mt, up 3.45 million mt or 30.4 percent compared to February 10.
In particular, as of February 20, domestic inventories of hot rolled coil (HRC), cold rolled coil (CRC) and common medium plate amounted to 1.67 million mt, 1.23 million mt and 1.28 million mt, respectively. The rise in long product stocks was even sharper, with wire rod and rebar inventories increasing to 2.8 million mt and 7.81 million mt as of February 20, up by 37.3 percent and 39.7 percent, respectively, compared to February 10.
