A reduction in China 's steel demand from the construction industry helped reduce China 's steel stocks by 15.3 % to 11.38 million tonnes , according to the Steel Iron and Steel Association ( CISA ) . Wire rod and rebar inventories shrank by 22.2 % and 23 % respectively , while hot - rolled coil stocks fell by 7.4 % . Steel stocks reached 18 million tonnes by the end of 2018 , and inventories are expected to build in June ahead of anticipated rains across China .
A spike in April's steel demand from the construction industry helped reduce China's steel stocks by 15.3% to 11.38 million tonnes, according to the China Iron and Steel Association (CISA). Wire rod and rebar inventories shrank by 22.2% and 23% respectively, while hot-rolled coil stocks fell by 7.4%. Steel stocks reached 18 million tonnes by the end of March, and inventories are expected to build in June ahead of anticipated rains across China.