Stockpiles of five major steel products in 20 Chinese cities declined 3% from ten days ago to 12.49 million tonnes on May 10, the fifth straight session of decline, according to China Iron and Steel Association.
Eastern China saw steel stocks decline 6.9% or 220,000 tonnes during the same period. Steel inventories in central China fell 5.9% or 110,000 tonnes compared with ten days ago. Northeastern China saw steel inventories fall 8.2% or 50,000 tonnes, while stocks at eastern China declined 1.2% or 40,000 tonnes.
Hot-rolled coil stocks were 1.57 million tonnes on May 10, up 1.9% or 30,000 tonnes from ten days ago.
Stocks of cold-rolled maintained around 1.13 million tonnes.
Inventory of medium-thick plate decreased 3.1% or 30,000 tonnes from ten days ago to 950,000 tonnes, while that of wire declined 5.7% or 140,000 tonnes to2.33 million tonnes.
Rebar stocks dropped 3.6% or 240,000 tonnes from ten days ago to 6.51 million tonnes.
(Writing by Rebecca Liu Editing by Harry Huo)
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