On February 20 this year, the total domestic inventory of the five major finished steel products in 21 principal cities in China reached 13.72 million tonnes, up by 1.0 million tonnes or 2.3 per cent compared with February 10, the China Iron and Steel Association (CISA) announced.

In particular, as of February 20, domestic inventories of cold-rolled flat steel (HRC) and standard medium plate were 1.5 million tonnes and 1.26 million tonnes, down by 2.0 per cent and 2.3 per cent, respectively. Despite domestic inventories of cold-rolled flat steel (HRC), wire coils and rebar, 2.27 million tonnes, 1.78 million tonnes, and 6.91 million tonnes, increased by 1.3 per cent, 5.3 per cent, and 3.8 per cent, respectively, all compared to January 31.

In mid-February, the increasing inventories pace of the five main finished steel products slowed amid improving demand from users.