China's steel inventory declines over 4.5% in late-April

Steel inventories of five major categories (HRC, CRC, medium plates, wire rod and rebar) in 21 key cities of China was recorded at 12.7 million tonnes (mnt) in the last 10-day period of April (21-30 April), according to a Lange Steel report. The inventory level declined further by 4.8%, equivalent to 0.64 mnt compared to the previous 10-day period of the month (11-20 April).

Steel inventory dropped by 7.4% m-o-m, equivalent to 1.01 mnt compared to late-March. On y-o-y basis, the same was down by 3.3%, equivalent to 0.44 mnt compared to late-April 2021.

Compared to the beginning of the year, the inventory was up by 61.2%.

Region-wise inventory

Steel inventory in the 7 regions of China marked unanimous decline in the end-April compared to the previous 10-day period.

• Central China: Inventory decreased by 16.1% i.e. 270,000 t, the highest decline of all regions.
  
  
• Northern China: Inventory slipped by 8.5% i.e or 120,000 t
  
  
• Northwestern China: Inventory down by 6.1% i.e 70,000 t.
  
  
• Eastern China: Inventory edged down by 1.8% i.e. 60,000 t.
  
  
• Southern China: Inventory dipped by 1.7% i.e. 50,000 t.
  
  
• Northeastern China: Inventory decreased by 3.5% i.e. 40,000 t.
  
  
• Southwestern China: Inventory down by 1.7% i.e 30,000 t.