China's total steel inventory increased by 3.8654 million tons to a new record

This week, the inventory of five major varieties of steel continued to increase by 3.8453 million tons or 12.63% to 34.2827 million tons, reach a new record, exceeding the 25.19 million tons of the same period last year (lunar calendar) by more than 36%, and the social steel inventory increased by 2.4957 million tons to 21.4325 million tons, a growth rate of 13.18%, the first time in history to break through 20 million tons. The factory inventory increased by 1.3496 million tons to 12.8502 million tons, a growth rate narrowed to 11.74%.

In terms of production, in addition to the slight increase in cold-rolled and medium and heavy steel plates, the production of thread, wire rod and hot-rolled steel coil continued to decline. The total output of the five varieties decreased by 227200 tons or 2.53% to 8.7525 million tons, a year-on-year drop of more than 11%. At present, the output of the five varieties has dropped for four weeks in a row, breaking a three-year low.