Stockpiles of five major steel products in 20 Chinese cities rose 14.6% to 16.95 million tonnes over February 21-28 compared with ten days ago, according to China Iron and Steel Association.
Southwestern China saw an increase of 18.1% or 680,000 tonnes in steel stocks. Steel inventories in East China and Central China climbed 13.5% (or 490,000 tonnes) and 17.6% (or 330,000 tonnes) compared with ten days ago.
Hot-rolled coil stocks were 2 million tonnes during February 21-28, up 19.8% or 330,000 tonnes from ten days ago.
Stocks of cold-rolled coil climbed 1.6% or 20,000 tonnes from ten days ago to 1.25 million tonnes.
Inventory of medium-thick plate increased 1.6% or 20,000 tonnes from ten days ago to 1.3 million tonnes, while that of wire grew 14.3% or 400,000 tonnes to 3.2 million tonnes.
Rebar stocks rose 17.8% or 1.39 million tonnes from ten days ago to 9.2 million tonnes.
(Writing by Rebecca Liu Editing by Harry Huo)
For any questions, please contact us by email@example.com or +86-351-7219322.