The decline of steel inventory shows an expanding trend

Posted:2020-11-19 11:01:02

The China Iron and Steel Association announced on the 13th a ten-day report on the monitoring of steel social stocks in early November 2020. The ten-day report showed that in the first ten days of November, the social stocks of five major types of steel in 20 cities were 10.03 million tons, a decrease of 1.24 million tons or 11.0% from the previous ten-day period; the recent decline in inventories showed an expanding trend.

In the first ten days of November, in terms of regions, the steel inventory of seven major regions continued to decline on a month on month basis, of which Southwest China was the largest one, with a decrease of 530000 tons, a decrease of 20.9%; a decrease of 260000 tons in East China, a decrease of 9.6%; a decrease of 170000 tons in South China, a decrease of 5.4%; and a slight decrease in steel inventories in other regions.

In terms of varieties, in the first ten days of November, reinforced steel was the largest variety in terms of month on month reduction and decline in inventory. Wire rod and hot-rolled steel coil also decreased, while cold-rolled coil and medium plate inventory changed little. Among them, 1.76 million tons of hot-rolled coil plate inventory decreased by 160000 tons or 8.3% compared with the previous ten day period; 1.16 million tons of cold-rolled coil plate inventory increased by 10000 tons or 0.9% compared with the previous ten days; and 980000 tons of medium and heavy plate inventory decreased by 10000 tons or 1.0% compared with the previous ten days.

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