China's steel inventories at 6-year low

Steel

Steel inventories at major Chinese cities fell below 10.0 Mt for the second consecutive week in the week ending 6 November, the lowest level since July 2009, monitored by U-metal. Current stocks have now declined by 6.6 Mt from their year-to-date high of 16.0 Mt in early March and are down by 0.9 Mt form the year-ago level.