[China Iron and Steel Association: Steel inventories have risen and are at a high level in the past four years] On October 30, the China Iron and Steel Industry Association released data showing that in the first three quarters, the average steel inventory of key statistical enterprises was 16.85 million tons, the highest level in the past four years, an increase of 8.7%, 3.6%, and 1.6% respectively compared with the same period in 2025, 2024, and 2023. In early October, corporate inventories were 16.97 million tons, an increase of 8.4% from the previous month, and an increase of 20.0% from the beginning of the year; social inventories were 9.39 million tons, an increase of 2.7% from the previous month, and an increase of 30.2% from the beginning of the year. This year, especially since the second half of the year, steel inventories have continued to be at a high level in nearly four years, which has suppressed steel prices to a certain extent.