As of November 30 this year, inventory of five main steel products, including rebar, wire rod, hot rolled coil (HRC), cold rolled coil (CRC) and plate, in 26 major steel markets in China amounted to 11.955 million mt, up 28,000 mt compared with previous week, according to the China Iron and Steel Association (CISA). Meanwhile, on year-on-year basis, finished steel inventory on the date in question was down 995,000 mt, though inventory of finished steel for the construction sector increased by 450,000 mt year on year.

The uptrend in Chinese finished steel inventory was stronger in the south of the country than in the north. Meanwhile, demand for construction steel in China is expected to weaken further due to the colder weather.