China Iron and Steel Association: the month-on-month decline of steel social inventory in late May expanded by 5.8%.

[China Iron and Steel Association: steel social inventory dropped 5.8% month-on-month in late May] CISA released data that in late May, the social inventory of five major varieties of steel in 21 cities was 10.31 million tons, a decrease of 630000 tons, or 5.8%, compared with the previous month. Inventory decline expanded; decreased by 1.2 million tons, down 10.4% from late April; increased by 2.79 million tons, or 37.1%, compared with the beginning of the year It decreased by 1.76 million tons, or 14.6 percent, compared with the same period last year.