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Steel inventories fell 4.6% in late April, indicating weakening demand.
Trade tensions and reduced exports are exacerbating domestic oversupply.
A sluggish property sector continues to dampen steel consumption.
China's inventories of main finished steel products decreased by 4.6% in late April, reflecting a contraction in domestic demand amid escalating trade tensions and a sluggish property sector.
Key Highlights:
Inventory Reduction: As of April 30, stocks of hot-rolled coil (HRC), medium plate, wire rod, and rebar saw significant declines, with wire rod and rebar inventories dropping by 7.5% and 4.5%, respectively.
Trade Pressures: China's steel exports are projected to decline by up to 20% in the second quarter of 2025 compared to the first quarter, due to escalating global protectionist measures, particularly with the U.S.
Domestic Challenges: The ongoing downturn in China's property sector continues to suppress domestic steel demand, further contributing to inventory reductions.
Also Read : Global scrap prices dropped by $20–30/tonne in late April. Automobile exports from India dip 5.5% in FY24
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