According to data released by the China Iron and Steel Association (CISA), China's inventories of main steel products including hot rolled coils (HRC), plates, cold rolled coils (CRC), wire rod and rebar in China decreased as of May 24th.
The data showed that the inventories of steel products in the given date totaled 12.8127 million tons in the Chinese market, decreasing by 9.3% month on month.
In addition, the finished steel stocks at the Chinese ports totaled 1.345 million tons as of May 24th, decreasing by 3% month on month.