China: Steel inventory with mills edge up w-o-w

Inventory of steel products with Chinese mills edged up by 1% w-o-w to 8.27 mnt as on 22 Dec'23 compared to 8.21 mnt in the previous week.

• Inventory of HRCs dropped by 6% to 1.94 mnt, while that of CRCs inched down by 1% to 1.19 mnt.
• Plates inventory moved down by 2% to 1.07 mnt.
• Inventory of rebars and wire rods increased by 5% and 6% to 3.58 mnt and 0.58 mnt, respectively.