China HRC Stocks up 26.04% from before CNY Holiday

SHANGHAI, Feb 2 (SMM) – The total inventory of HRC across social warehouses and steel makers in China stood at 4.19 million mt as of February 2, up 866,100 mt or 26.04% from before the Chinese New Year (CNY) holiday, a gain of 16% on the year.

The inventory across social warehouses was 3.08 million mt, up 737,400 mt or 31.54% from before CNY holiday, a gain of 16.98% on the year.

The in-plant inventory of steel makers totalled 1.12 million mt, up 128,700 mt or 13.02% from before CNY holiday, and a gain of 13.36% on the year.