Skip links
steel inventory

Steel Inventory Sees First Rise After 8 Period Decline in Early October 2024, with Significant Regional Differences

Steel Inventory Jumps 2% After 8 Period Decline: Regional Trends and Key Product Insights for October 2024

Early October 2024 sees a 2% rise in steel inventory after eight periods of decline, with notable regional variations and significant product trends across hot rolled coils, rebar, and wire rods.
Author picture

In early October 2024, the social inventory of steel in 21 major cities across five key categories reached 7.63 million tons, marking an increase of 150,000 tons (2.0%) compared to the previous period, according to a report by the China Iron and Steel Association. This represents the first inventory increase after eight consecutive periods of decline. Since the beginning of the year, inventories have grown by 340,000 tons (4.7%) but remain 1.61 million tons (17.4%) lower than the same period last year.

steel inventory

Breaking it down by region, the inventory changes in seven major areas varied. Eastern China experienced the largest inventory increase, up by 220,000 tons (11.5%), followed by Central China, which rose by 100,000 tons (10.9%). Northern China saw an increase of 30,000 tons (4.5%), and Southwest China grew by 10,000 tons (1.0%). In contrast, South China faced the most significant reduction, down by 140,000 tons (6.8%). Northeast China saw the steepest decline in percentage terms, dropping by 60,000 tons (14.0%), while Northwest China fell by 10,000 tons (2.1%).

steel inventory

By Product Type

Hot Rolled Coils: Inventory stood at 2.14 million tons, down by 90,000 tons (4.0%) compared to the previous period. The inventory decline has slowed, and it is up by 700,000 tons (48.6%) since the start of the year and 60,000 tons (2.9%) higher than last year.

Cold Rolled Coils: Inventory increased by 10,000 tons (0.9%) to 1.13 million tons, reversing previous declines. It is up by 100,000 tons (9.7%) since the beginning of the year but down by 80,000 tons (6.6%) year-on-year.

Medium and Heavy Plates: Inventory decreased by 10,000 tons (1.0%) to 1.03 million tons, with the decline rate narrowing. It has increased by 90,000 tons (9.6%) this year but dropped by 150,000 tons (12.7%) compared to the same time last year.

Wire Rods: Inventory saw a notable increase of 70,000 tons (10.8%) to 720,000 tons. This marks a significant rebound, although it remains down by 110,000 tons (13.3%) from the beginning of the year and 170,000 tons (19.1%) compared to last year.

Rebar: Inventory rose by 170,000 tons (7.0%) to 2.61 million tons, marking the first increase after eight periods of decline. Since the start of the year, rebar inventories have dropped by 440,000 tons (14.4%) and by 1.27 million tons (32.7%) compared to last year.

steel inventory

The data highlights the ongoing shifts in the steel market, driven by regional differences in demand and production trends.

Source: China Iron and Steel Association, October 13, 2024

Leave a comment

This website uses cookies to improve your web experience.
Home
Account
Cart
Search