China’s steel product inventory fell this week, steel output increased – consultancy

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

China’s total inventory of the five major steel products declined by 152,800 tonnes from the previous week to 16.6 million tonnes, with inventory at steel mills falling by 49,200 tonnes to 4.498 million tonnes and social inventor falling by 103,600 tonnes to 12.1 million tonnes, according to data from consultancy Mysteel.

In breakdown, inventory of steel rebar fell by 95,300 tonnes to 8.06 million tonnes, wire rod inventory fell 68,300 tonnes,, while hot-rolled coil inventory rose slightly by 8,000 tonnes to 3.75 million tonnes, showed the data.

China’s total steel product output rose by 9,100 tonnes to 9.3 million tonnes, with output of hot-rolled coil rising by 29,500 tonnes to 3.15 million tonnes, wire rod rising by 3,500 tonnes, while steel rebar down 18,700 tonnes, according to the data.