China's finished steel stocks down 3.2% in mid-May, CISA Production & Sales,  Steel Products 2023-05-25 08:47:13

Inventory of five major steel products in China's 21 cities fell 3.2% or 360,000 tonnes from ten days ago to 10.94 million tonnes in mid-May (May 11-20), according to data from China Iron and Steel Association (CISA).

The volume was 9.4% or 1.14 million tonnes lower than the year-ago level, data showed.

Southwestern China saw stocks fall 220,000 tonnes or 10.9% from ten days ago, marking the largest decrement and decline rate among other regions for the fourth straight session.

Northern China registered a 70,000 tonnes or 7.1% decline, and stocks in northwestern China dropped 80,000 tonnes or 7.3% from ten days ago. Eastern China's stocks were down 30,000 tonnes or 1.1%, and steel stocks in southern China declined 20,000 tonnes or 0.8%.

Northeastern and central China's inventory both gained 30,000 tonnes or 3.6% and 2.6% respectively from the previous ten days.

Data from the CISA showed rebar stocks stood at 5.27 million tonnes during the session ended on May 20, falling 4.2% from ten days ago.

Stocks of hot-rolled coil came in at 2.10 million tonnes, rising 0.5% from ten days ago, and that of cold-rolled coil declined 3.2% to 1.20 million tonnes.

Medium-thick plate stocks stood at 0.97 million tonnes, up 1.0% from ten days ago, while wire stocks fell 7.3% to 1.40 million tonnes.

(Writing by Emma Yang  Editing by Harry Huo)
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