Posted on 03 Nov 2025
Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined at a faster pace over October 24-30 to reach 4.37 million tonnes, with the on-week fall quickening to 4.1% as against the dip of just 0.3% during the prior week.
The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. The on-week fall was mainly seen in inventories of rebar, wire rod and CRC during the survey period, while stocks of HRC and medium plate increased slightly from the previous week, the findings showed.
Sentiment in the domestic market improved amid positive macroeconomic news emerging during the week which included five government departments reiterating their determination to combat excessive market competition. Some steel end-users returned to the market for replenishments, and steel transactions in the physical market recovered accordingly, Mysteel Global noted.
For example, over October 23-29, the daily trading volume of construction steel comprising rebar, wire rod and bar-in-coil among the 237 trading houses nationwide under Mysteel's regular tracking averaged 107,598 tonnes/day, rising by 6,942 t/d or 6.9% from the prior week.
Domestic steel prices also strengthened, with the national average price of HRB400E 20mm dia rebar reaching Yuan 3,261/tonne ($458/t) including the 13% VAT as of October 29, up by Yuan 45/t on week, according to Mysteel's assessment. At the same time, the national average price of Q235 4.75mm HRC increased by Yuan 46/t during the same period to register Yuan 3,373/t including the 13% VAT.
Some steelmakers resumed operations after completing maintenance on their steelmaking facilities this week. As a result, total output of the five major steel items among the sampled steel mills rose further on week to reach 8.75 million tonnes over October 23-29, higher by 1.2%.
In parallel, inventories of the five major steel products held by Chinese traders also declined during October 24-30, with the tonnage at warehouses in the 132 Chinese cities monitored by Mysteel slipping for a second week by 1.7% on week to 17.43 million tonnes, according to the survey results.
Source:Mysteel Global
