As of February 16, inventory of the main finished steel products (plate, hot rolled coil (HRC), cold rolled coil (CRC), rebar and wire rod) in the major steel markets in China totaled 18.016 million mt, up 1.851 million mt week on week and constituting the ninth consecutive week-on-week increase,according to the China Iron and Steel Association (CISA). Meanwhile, thetotal finished steel inventory in the Chinese market as of the given date was 983,000 mt lower compared to the same time last year.
In particular, inventory of rebar indicated an increase of 930,000 mt compared to the previous week, rising for the 12th consecutive week on week-on-week basis. As of the same date, wire rod inventory in China was up 445,000 mt week on week. Hot rolled coil inventory and plate inventory in China increased by 302,000 mt and 145,000 mt respectively, while domesticinventory of cold rolled coil was up 30,000 mt, all on week-on-week basis.
