Stockpiles of five major steel products in 20 Chinese cities posted a drop of 12.8% to 8.75 million tonnes over November 11-20 compared with ten days ago, according to China Iron and Steel Association.
During November 11-20, East China posted a sharp decrease of 15.6% in steel stocks, while northwestern and southern China saw steel stocks drop 14.4% and 9.3% from ten days ago. Stocks in central, northern, northwestern and northeastern China dropped 13.9%, 9.4%, 15.9% and 14.3%, respectively.
Hot-rolled coil stocks were 1.68 million tonnes during the same period, down 80,000 tonnes or 4.5% from ten days ago.
Stocks of cold-rolled coil dropped 150,000 tonnes or 12.9% from ten days ago to 1.01 million tonnes.
Inventory of medium-thick plate decreased 5.1% from ten days ago to 930,000 tonnes, while that of wire dropped 16.3% to 1.28 million tonnes.
Rebar stocks decreased by 16.3% from ten days ago to 3.85 million tonnes.
(Writing by Tammy Yang Editing by Harry Huo)
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