In last week, the domestic social steel inventory in Chinese 26 surveyed cities had inched up by 24000 t from prior week to 15.484 million tons.
Concretely, the stockpiles for rebar were 6.708 million metric tons in the domestic steel market, down 15 thousand tons from prior week. Meanwhile, the inventories for medium plate and CRC also had emerged a downward trend with the week-over-week decrease of 51 and 9 thousand tons in respective from prior week. On the contrary, the stocks for wire rod and HRC had increased by 49 and 50 thousand tons respectively from previous week.
From the above data, we could see that the domestic steel inventories are still fluctuating at comparatively high levels. Given to there are still no positive signs seen, we deem that the domestic steel market will continue to be overshadowed by the huge stocks and desolate deals from final customers.