On August 31 this year, overall domestic inventories of the five main finished steel products in 21 major cities in China totaled 9.71 million mt, remaining stable compared to August 20, compared to a decline of 1.5 percent recorded in mid-August (August 11-20), as announced by the China Iron and Steel Association (CISA).
Demand for steel remained sluggish in the traditional off-season amid typhoons hitting China, which contributed to increases in stocks of some finished steel products in the given period.
In particular, as of August 31, domestic inventory of HRC decreased by 2.1 percent, domestic inventory of medium steel plate remained stable, while domestic inventories of CRC, wire rod and rebar rose by 0.7 percent, 2.4 percent and 0.5 percent, respectively, all compared to August 20.
