Stocks of main finished steel products in China up 5.6% in early Jan, driven by rebar

Thursday, 14 January 2021 12:31:31 (GMT+3)   |   Shanghai
       

In early January (January 1-10) this year, overall domestic inventories of the five main finished steel products in 20 major cities in China totaled 7.71million mt, up 410,000 mt or 5.6 percent compared to late December. The increase was driven by rises in rebar stocks.

In particular, as of January 10, domestic inventories of hot rolled coil (HRC) and wire rod amounted to 1.33 million mt and 1.19 million mt, remaining stable compared to December 31, while inventories of cold rolled coil (CRC), common medium plate and rebar amounted to 0.98 million mt, 0.94 million mt and 3.27 million mt, up 5.4 percent, 1.1 percent and 12.0 percent, respectively, compared to December 31.

The worsening Covid-19 pandemic, especially in northern China, exerted a negative impact on transportation and construction activities, resulting in slacker demand for steel, while harsher weather conditions also resulted in rises in inventories of steel.


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