China’s social stocks of 5 major steel products in week ending Mar 22 decrease
In the week ending on March 22, the inventory of China’s five major steel products was about 17.08 million tons, slightly decreasing by 2.8% from the previous week. It has declined for the second consecutive week, and the decrease has expanded.
Among them, the social inventory of rebar decreased by 2.68% week on week to about 9.09 million tons. The inventory of wire rods (about 1.46 million tons), hot-rolled products (about 3.39 million tons), cold-rolled products (about 1.53 million tons), and medium-thick plates (about 1.6 million tons) decreased by 6.61%, 3.3%, 0.26% and 1.69% week on week, respectively.
