Steel inventories at China's key surveyed mills fell 11.4% as of August 31, 2026, from August 20, according to data from the China Iron and Steel Association (CISA).

Inventories totaled 16.25 million tonnes by August 31, down 2.08 million tonnes. Compared with the start of the year, stocks were up 2.11 million tonnes, or 14.9%, while they edged down 0.2% from the same period a month earlier.

On a year-on-year basis, inventories rose 8.5% from end-August 2025 and were 11.8% higher than the same period in 2024.

By region, northeastern China saw the largest decline, with stocks falling 540,000 tonnes, or 24.4%, led by Liaoning province's 500,000-tonne drop.

East China inventories decreased by 1.02 million tonnes, or 15.8%, with Shanghai down 410,000 tonnes and Shandong down 320,000 tonnes.

Southwest China stocks fell 110,000 tonnes, or 13.1%, while central-south China declined by 520,000 tonnes, or 16.6%, with Guangdong province down 230,000 tonnes.

North China was the only region to post an increase, with inventories rising 100,000 tonnes, or 2.1%, driven by a 210,000-tonne build in Shanxi province.

Northwest China inventories were broadly flat compared with August 20.