Steel stockpiles near 2012 levels as output slows

Steel stockpiles in China, the world's biggest producer and consumer of the alloy, are nearing last year's levels as output slows to meet demand, according to Commodore Research & Consulting.

Inventories now total 15.7 million metric tons, up 2 percent from a year earlier, Jeffrey Landsberg, the New York-based president of Commodore, which advises shipowners, said in an e- mailed report on Tuesday.

Stocks were up 23 percent from last year as of April 5, when they came to 21.9 million tons, widening from a 6 percent increase by March 8, he said.