China's key steel mills held 16.28 million tonnes of steel products in inventory in late July 2026, down 1.85 million tonnes or 10.2% from the previous ten-day period, according to data from the China Iron and Steel Association (CISA). Inventories rose 2.14 million tonnes or 15.1% from the start of the year, were roughly flat from the same period last month, and increased 1.5 million tonnes or 10.1% year on year. Compared with the same period two years earlier, stocks were up 230,000 tonnes or 1.4%.