Mid-October Social Steel Inventories in 21 Cities Decline Month-on-Month, Reflecting Market Dynamics

[China Iron and Steel Association: Social Inventories of Five Major Steel Products in 21 Cities Decreased Month-on-Month in Mid-October]

In mid-October, the social inventories of five major steel products in 21 cities amounted to 7.31 million tonnes, a month-on-month decrease of 320,000 tonnes or 4.2%. Compared to the beginning of the year, there was an increase of 20,000 tonnes, up 0.3%; and a year-on-year decrease of 1.69 million tonnes, down 18.8%.

Regionally, in mid-October, steel inventories in the seven major regions varied with both increases and decreases on a month-on-month basis, as follows: Inventories in South China decreased by 110,000 tonnes, down 5.7%, recording the largest decrease; East China saw a decrease of 80,000 tonnes, down 3.8%; Central China decreased by 100,000 tonnes, down 9.8%; North China saw a reduction of 20,000 tonnes, down 2.9%; Northeast China recorded the largest percentage decrease, with a drop of 50,000 tonnes, down 13.5%; whereas Southwest China's inventories increased by 20,000 tonnes, up 1.9%; and Northwest China also saw an increase of 20,000 tonnes, up 4.3%.