Inventory of five major steel products in China's 21 cities continued to increase in early March (March 1-10), up 4.0% or 550,000 tonnes from late February to 14.22 million tonnes, according to data from the China Iron and Steel Association (CISA).
The volume was also 7.3% or 970,000 tonnes higher than the year-ago level, data showed.
As of March 10, eastern China saw stocks increase 190,000 tonnes or 5.7% from ten days ago, marking the biggest increment. Northwestern China registered a 130,000 tonnes or 9.6% increase in stocks compared to ten days earlier, marking the fastest growth among all regions
Steel stocks in southern China rose 80,000 tonnes or 2.6% compared to the previous ten days, while that of central China increased 70,000 tonnes or 4.5% from ten days earlier, according to the CISA.
Stocks in northeastern China increased 40,000 tonnes or 4.8% from ten days ago. That of northern China grew 20,000 tonnes or 1.2% from the preceding session, while inventories in southwestern China rose 20,000 tonnes or 1.1% compared with ten days ago.
Stocks of hot-rolled coil came in at 2.43 million tonnes in early March, up 4.3% from ten days ago, and that of cold-rolled coil was 1.45 million tonnes, climbing 1.4% from the previous ten days.
Medium-thick plate stocks stood at 1.41 million tonnes, up 2.9% from ten days ago, while wire stocks increased 4.6% to 1.81 million tonnes.
The CISA data also showed rebar stocks stood at 7.12 million tonnes as of March 10, rising 4.6% from ten days ago.
(Writing by yan.sun Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.