Accordingly, the domestic social steel inventory in Chinese 26 surveyed cities had ended its eighteen-month-long dip and reached 15.546 million tons in last week, rising by 0.119 million tons from prior week.
Concretely, the stockpiles for rebar were 6.713 million metric tons in the domestic steel market, up 45 thousand tons from prior week. Meanwhile, the stocks for wire rod also had dropped by 27 thousand tons from prior week. However, the inventories for HRC, medium plate, CRC and wire rod had increased by 47, 7, 9 and 12 thousand tons respectively compared to previous week.
From the above data, we could see that the domestic steel inventory has inched up softly, which is within previous expectations. As for the market prospect, experts said that that domestic steel stocks may rise up gradually given to the reducing demand from final customers caused by the scorching weather conditions and slowdown of the economic growth rate.