Hot-rolled coil steel inventory in China fell from a year earlier this week for the first time since a low consumption season began in June.
- Inventory nose dived as the local authorities imposed stricter curbs on steelmakers to minimise potential disruption with China marking its 70th founding anniversary on 01 October 2019.
- The inventory of HRC across the social warehouses and steel mills declined by 1.4 per cent to stand at 3.41 million metric tonnes (as on 10 October 2019).
- HRC stocks across the steelmakers stood at 959,600 metric tonnes (as on 10 October 2019), up by 2.4 per cent from previous weak; however, down by 8.1 per cent from the same period in 2018.
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