Stocks of main steel products in China down 3.8% in mid-Oct amid drop in longs

Tuesday, 27 October 2020 14:02:00 (GMT+3)   |   Shanghai

As of October 20 this year, overall domestic inventories of the five main finished steel products in 20 major cities in China totaled 12.16 million mt, down 480,000 mt or 3.8 percent compared to early October (Oct. 1-10), while declining by 8.05 million mt or 39.8 percent compared to the highest level this year recorded on March 10.

In particular, as of October 20, domestic inventories of hot rolled coil (HRC) and common medium plate amounted to 2.05 million mt and 1.02 million mt, remaining stable, while inventories of cold rolled coil (CRC), wire rod and rebar totaled 1.17 million mt, 1.98 million mt and 5.94 million mt, down 1.7 percent, 3.4 percent and 6.2 percent, respectively, compared to October 10.

Stock replenishment following the long National Day holiday positively affected transaction activities in the domestic steel market, resulting in lower inventories in the given period.

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