China’s steel stockpiles surged this week, output hit eight-week high – research 
COMMODITIES DATA
China’s steel stockpiles surged this week, output hit eight-week high – research 
COMMODITIES DATA

China’s steel stockpiles surged this week, output hit eight-week high – research 

 

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China’s total inventory of the five major steel products surged by 362,200 tonnes this week to 15.8 million tonnes, compared to a drop in the previous week, with social inventory increasing by 172,100 tonnes to 11.26 million tonnes and stockpiles at steel mills rising by 190,100 tonnes to 4.54 million tonnes, according to data from Mysteel. 

Stockpiles of all types of steel products increased across the board. Stockpiles of steel rebar at mills increased by 108,700 tonnes to 2.03 million tonnes, while social inventory of steel rebar increased by 98,700tonnes, leaving the total inventory of steel rebar surging by 207,400 tonnes to 7.44 million tonnes, showed the data. 

The total output of major steel products increased by 71,500 tonnes this week to 9.4 million tonnes, marking the highest level in eight weeks, with output of all the five major steel products rising, showed the data.