Stockpiles of five major steel products in 20 Chinese cities surged 30.4% to 14.79 million tonnes over February 11-20 compared with ten days ago, according to China Iron and Steel Association.
Southwestern China saw a sharp increase of 47.1% or 890,000 tonnes in steel stocks. Steel inventories in East China and Central China climbed 28.4% (or 800,000 tonnes) and 54.1% (or 660,000 tonnes) compared with ten days ago.
Hot-rolled coil stocks were 1.67 million tonnes during February 11-20, up 7.7% or 120,000 tonnes from ten days ago.
Stocks of cold-rolled coil climbed 17.1% or 180,000 tonnes from ten days ago to 1.23 million tonnes.
Inventory of medium-thick plate increased 15.3% or 170,000 tonnes from ten days ago to 1.28 million tonnes, while that of wire grew 37.3% or 760,000 tonnes to 2.8 million tonnes.
Rebar stocks surged 39.7% or 2.22 million tonnes from ten days ago to 7.81 million tonnes.
(Writing by Emma Yang Editing by Harry Huo)
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