China’s HRC inventories up 8.5% in early October; steel output drops

Steel inventories at member mills of the China Iron & Steel Association (Cisa) and in the spot market both increased in early October, although mills cut crude and finished steel output, according to data released on Wednesday October 14.

October 1-10 output
Crude steel: 2.17 million tonnes per day, down by 0.84%
Finished steel: 2.04 million tpd, down 8.05%
Hot metal: 1.92 million tpd, up 1.08%
October 1-10 inventories
Mill finished steel inventories
Total:
13.59 million tonnes, up by 2 million tonnes (17.22%)
Spot market inventories
Hot-rolled coil: 2.05 million tonnes, up by 8.5%
Cold-rolled coil: 1.19 million tonnes, up by 5.3%
Plate: 1.02 million tonnes, down by 7.4%
Wire rod: 2.05 million tonnes, down by 7.9%
Rebar: 6.33 million tonnes, down by 0.5%
Total (all five major products): 12.64 million tonnes, up by 410,000 tonnes (3.4%).
Cisa’s output data for the preceding 10 days can be found here.

Jessica Zong

jessica.zong@fastmarkets.com

Published

Jessica Zong

October 14, 2020

05:45 GMT

Shanghai