In this week, the domestic social steel inventories in Chinese 26 main cities has continued its downward trend with the week-over-week decrease of 0.2197 million tons from prior week to 19.0489 million tons, signifying that the domestic steel inventories have dipped for four straight weeks.
Concretely, the stockpiles for rebar have reached 8.0306 million metric tons in the domestic steel market, down 1.23% from prior week. Meanwhile, the inventories for HRC, medium plate and wire rod have totaled 4.9697 million t, 1.6319 million t and 2.0317 million t, down 0.71%, 1.47% and 2.57% respectively. However, the stocks for CRC have jumped by 0.34% from previous week to 1.65 million t.
Given to the rising steel demand from final customers, experts expected that the domestic social inventories will continue inching down in the short term.