Accordingly, the domestic steel inventories in Chinese 25 main cities decreased by 0.264 million metric tons vs prior week to 13.164 million metric tons last week, signifying that the domestic steel stockpiles have decrease for sixth straight weeks and hit the lowest level since the beginning of this year.
Among them, the rebar inventories decreased by 0.157 million metric tons, HRC inventories declined by 35 thousand metric tons, wire rod stockpiles decreased by 9 thousand metric tons, CR inventories decreased by 32 thousand metric tons and plate stockpiles dropped by 31 thousand metric tons, all compared to previous week.
Regarding of the rising domestic steel prices and reducing capacities from steelmakers, the social steel inventory may continue its downward trend in the upcoming future.