SHANGHAI, May 6 (SMM) – Social inventories of steel products in China continued to fall in late April, after reaching a peak in early March, according to a survey by China Iron and Steel Association (CISA).
Data published by the industry body on Tuesday showed that social inventories of hot- and cold-rolled plates/coils, heavy & medium plates, wire rods and rebar in 20 Chinese cities stood at 16.24 million mt as of the end of April, down 930,000 mt, or 5.4% from April 20.
That was 9.43 million mt, or 138.3% higher than the beginning of the year, but down 3.97 million mt, or 19.6% from the record high of 20.21 million mt seen on March 10.
