Inventory of five major steel products in China's 21 cities climbed 10.2% from ten days ago to 8.74 million tonnes on January 20, according to data from China Iron and Steel Association (CISA).
The volume was 10.9% higher than the start of the year and 0.8% higher than the year-ago level, data showed.
Seven regions reported rebound in steel products stocks during January 11-20. Southern China saw stocks climb 220,000 tonnes or 12.2%, the largest increase among the seven regions; northern China registered a 160,000 tonnes or 21.1% increase, and stocks in western China gained 110,000 tonnes or 22.4%. Steel products stocks increased 100,000 tonnes or 7.5% in southwestern China and rose 100,000 tonnes or 33.3% in northeastern China, while stocks in central China climbed 50,000 tonnes or 5.7% from the previous ten days.
Data from the CISA showed rebar stocks stood at 3.62 million tonnes on January 20, rising 19.1% from ten days ago. The volume accounted for 41.4% of the total steel product inventories.
Stocks of hot-rolled coil came in at 1.61 million tonnes, rising 1.9% from ten days ago, but that of cold-rolled coil were 1.12 million tonnes, down 0.9% from ten days ago.
Medium-thick plate stocks stood at 1.01 million tonnes, climbing 11% from ten days ago, and wire stocks came in at 1.38 million tonnes, up 8.7%.
Source: sxcoal
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