Shares of steel companies in China fell 3.2%

According to the results of a weekly study by Mysteel, conducted by 184 Chinese steelmakers, inventories of the five main types of finished products fell from August 27 to September 2 after growing for three weeks in a row. Mysteel Global found that to explain this drop, respondents mainly pointed to an increase in consumption by end-use consumers, rather than a decline in production.

The five main items include rebar, wire rod, hot rolled coil, cold rolled coil and middle plate. The total inventories at the shipyards of the surveyed plants reached 6.8 million tons as of September 2, which is 3.2% less than in a week. weekly growth of 2.1% over the previous week, showed a weekly survey. However, during the year, the total inventory remained
the same.

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