Inventories of five key steel products owned by trading firms (social stocks) at 20 major cities in China climbed 3.4% over October 1-10 compared with ten days ago, showed the data from the China Iron and Steel Association (CISA).
China's steel stocks have maintained moderate changes since mid-June after about three months of continuous de-stocking, CISA data showed.
The stocks were registered at 12.64 million tonnes on October 10, down 37.5% from the peak in early-March yet up 85.3% compared with the level at the start of the year, data showed.
Of the five major steel products, rebar inventory decreased, but hot-rolled coil (HRC), cold-rolled coil (CRC), wire rod and medium-thick plate increased.
Total rebar stocks dropped 0.5% from ten days ago to 6.33 million tonnes on October 10.
Stocks of wire rod increased 7.9% to 2.05 million tonnes; HRC grew 8.5% to 2.05 million tonnes; CRC climbed 5.3% to 1.19 million tonnes; and medium-thick plate rose 7.4% to 1.02 million tonnes, data showed.
Steel products inventories presented increase at most regions, while the northeastern and northwestern regions showed downward trends.
Steel product stocks at central China region presented the biggest increase of 110,000 tonnes or 9.6% from ten days ago.
Southern China reported an increment of 100,000 tonnes or 3.1%. Northern China ranked third in growth of inventories by 90,000 tonnes, an 8.8% increase.
The finished social steel stocks in top three regions of southern, eastern and southwestern China were at 3.35 million, 3.20 million and 2.71 million tonnes, separately.
The CISA has adjusted the statistical frequency of social steel product inventories from monthly to 10-day basis since February, to better track the dynamics of stocks during the epidemic period.
(Writing by Emma Yang Editing by Tammy Yang)
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