China’s warehouses groaning with steel, ports congested
Mar 06, 2020 15:00
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Chinese warehouses storing steel long products such as rebar, wire rod and bar-in-coil are reaching full capacity, while major ports are congested with vessels full of construction steel queuing to be unloaded, Mysteel’s latest survey published on Thursday indicated. Inventories have swollen as steel demand has plummeted under the impact of China’s fight against COVID-19.
The survey, conducted on March 5, showed that 33.6% of the major warehouses for construction steel across China had already reached their limit, and that among that third, nearly two-thirds – 62.5% – are located in East China, and 11.4% in North China.
The major warehouses which Mysteel sampled are those