Press "Enter" to skip to content

China’s steel inventory hit all-time high, industry watchers urge production cut

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

China's steel inventory hit an all-time high due to weaker demand from downstream sectors which haven't resumed full capacity production amid the coronavirus outbreak, prompting industry watchers' call for sector-wide production cut.

According to data from ChinaTSI, an industry consultancy, steelmakers' inventory reached 34.28 million tonnes last week and the inventory is expected to maintain uptrend momentum as steel companies are churning out 2 million tonnes tonnes a day.

Steelmakers . . .

To continue reading, please subscribe. You will get

  • Original and data-driven reporting with details and perspectives you won't find anywhere else
  • THE WIRE - A real-time platform focused on China, with up-to-the-minute updates
  • Daily Brief newsletter to get you prepared for every trading day
  • An indispensable and reliable source of information on China's economy and financial markets
  • We focus. That's why you choose us.

 

FREE TRIAL cancel anytime

 

We highly value independence. We are solely funded by subscriptions from intelligent readers like you. Not ready for our full service? Try Free Weekly Newsletter first.

 

Already have an account? Sign In

Top