China: Warehouse inventory dips 3% in first 10 days of Sept'21

China's warehouse level (social) steel inventory across the five major steel categories (HRC, CRC, mid-plates, wire rods and rebar) in 20 key cities by end of the first 10 days of Sept'21, was at 11.38 million tonnes (mn t), down 360,000 tonnes (t) or 3.1% from the previous 10-day tally, showing continuous inventory drawdown.

The inventory was down 1.05 mn t or 8.4% from the same period of last year.

In the first 10-days of Sept'21, if analysed across the seven regions, except for north China, all the other regions witnessed varying declines.

To be specific, inventory in south China decreased 160,000 tonnes (t) or by 5.9%, marking the highest decline among all regions.

The stocks in east China reduced by 120,000 t or were down 3.6%. North-east China noticed a reduction of 50,000 t, down 8.8% while north-west China saw the inventory reducing by 40,000 t or by 6.9%. Central China stocks were down 30,000 t or down 2%. South-west China was down 20,000 t or 1.1%. North China stocks increased 60,000 t or were up 5.2%.

Warehouse-level inventory by steel categories in early-Sept'21