As of August 10 this year, the total domestic stocks of the five main types of finished steel products in 21 major Chinese cities amounted to 9.86 million tons, an increase of 0.6% compared to July. On July 31, compared with the 1.9 percent increase recorded at the end of July (July 21-31), as announced by the Chinese Association of Ferrous Metallurgy (CISA).
Demand for steel in traditional countries remains low. during the off-season, as well as due to typhoons that hit China, which contributed to an increase in stocks of finished metal products during this period.
In particular, as of August 10, domestic stocks of HRC, wire rod and rebar increased by 0.9%, 1.2% and 1.2%, respectively, stocks of rolled steel decreased by 1.4%, while stocks of medium-quality sheet steel remained stable compared to July 31.
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