China’s social inventory of steel products fell further in mid-May, well below level at start of year – industry association
COMMODITIES DATA
China’s social inventory of steel products fell further in mid-May, well below level at start of year – industry association
COMMODITIES DATA

China’s social inventory of steel products fell further in mid-May, well below level at start of year – industry association

 

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The social inventories of five major steel products in China’s 21 major cities stood at 10.94 million tons during the period of May 11 – 20, a drop of 3.2% from the previous ten-day period, indicating a continued decline in inventories, said the China Iron and Steel Association (CISA).

The inventory surged by 45.5% from the start of the year, but sliding 9.4% from the same period last year, it said.

In particular, the inventory of steel rebar reached 5.27 million tons, down 4.2% from the previous 10-day period, showing a continued decline; surging 71.1% from the start of the year, but sliding 14.9% from the same period last year, according to the association.