Flash: China's steel inventory grows over 3 million mt during CNY

Published: Feb 23, 2018 10:27

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China's rebar, wire rod and hot-rolled coil inventory grew more than 3 million mt over the Chinese New Year holiday, SMM data showed.

SHANGHAI, Feb 23 (SMM) – China's social inventory of rebar this week stood at 8.06 million mt, up 32% from levels seen before Chinese New Year, SMM data showed. Wire rod inventory amounted to 2.7 million mt, up 39% from last week, and hot-rolled coil stocks grew 21% to 2.6 million mt.

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rebar wire rod hot-rolled plate

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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