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The relative inventory level of steel in China is not high at present

Posted:2021-04-02 16:34:58

The so-called steel relative inventory level refers to the correlation coefficient between steel social inventory and steel output (including trade volume) in the same period. Generally speaking, there is a positive correlation between them. In other words, in the same period, the more steel production and trade circulation, the higher the reasonable inventory level, and vice versa. For example, the reasonable inventory level corresponding to the output of 1 billion tons of steel must be much higher than that of 100 million tons.

According to the statistical data, China's steel production in the first quarter of this year is expected to be about 314.3 million tons, an increase of 27% compared with the production in the first quarter of 2018 (246.93 million tons), while China's steel social inventory in the second half of the first quarter of 2021 (March 26) is about 17.99 million tons, an increase of 7.5% compared with the 16.74 million tons in the second half of the first quarter of 2018 (March 23), which shows that the growth rate of the latter is far lower than that of the former. The relative inventory level of China's steel products in the first quarter of 2014 has decreased significantly compared with that in 2018.