18 Sep 2025 02:41:27 ET │ 9 pages China Materials 2025 On-ground Demand Monitor Series #138 – Steel Inventory and Consumption Data CITI'S TAKE In this series of notes, we aim to track and analyze high-frequency on- ground demand trends in China. Market expectations of a demand recovery have been largely cautious. Latest pecking order: copper > battery > gold > aluminum > cement > steel> lithium > thermal coal names. Production — According to data from Mysteel, from Sep 12 to Sep 18, total China steel produc ...