In last week, the domestic social steel inventory in Chinese 26 surveyed cities had inched down by 89000 t from prior week to 15.459 million tons.
Concretely, the stockpiles for rebar were 6.723 million metric tons in the domestic steel market, down 2 thousand tons from prior week. Meanwhile, during the period in question, the stocks for wire rod, HRC, medium plate also had emerged a downward trend with the week-over-week decrease of 43, 26, 7 and 11 thousand tons in respective from prior week.
Even though the domestic steel inventory have dipped slightly in last week, experts said that the China's steel market will continue to be pressurized by huge social stocks owing to the high-remained outputs from mills and desolate deals from final manufacturers.