SHANGHAI, May 31 (SMM) – Hot-rolled steel inventories at mills across China rose 1.1% from a week ago and stood at 945,100 mt as of Thursday May 31, SMM data showed.
This, at 15 weeks after Chinese New Year, marked the first increase after five consecutive week-on-week declines.
Social inventories of hot-rolled steel fell for 12 straight weeks and came in at 1.99 million mt as of Thursday, down 2.9% week on week. This brought the total figure, including social inventories and inventories at mills, to 2.93 million mt, down 1.6% from a week ago.
On a yearly basis, the same weeks after the Chinese New Year, total inventories went down 27.8%, in-plant stocks were down 15.4% and social inventory was down 32.5%.
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