China's finished steel stocks extend rise in late Feb, CISA General,  Steel Products 2024-03-04 10:41:28

Inventory of five major steel products in China's 21 cities continued to increase in late February (February 21-29), up 12.8% or 1.55 million tonnes from mid-February to 13.67 million tonnes, according to data from the China Iron and Steel Association (CISA).


The volume was also 0.7% or 90,000 tonnes higher than the year-ago level, data showed.


As of February 29, central China saw stocks increase 430,000 tonnes or 37.7% from ten days ago, marking the biggest increment and growth rate among all regions. Southern China registered a 350,000 tonnes or 13.0% increase in stocks compared to ten days earlier.


Steel stocks in eastern China rose 240,000 tonnes or 7.7% compared to the previous ten days, while that of southwestern China increased 180,000 tonnes or 11.1% from ten days earlier, according to the CISA.


Stocks in northwestern China increased 150,000 tonnes or 12.5% from ten days ago. That of northern China grew 130,000 tonnes or 8.2% from the preceding session, while inventories in northeastern China rose 70,000 tonnes or 9.2% compared with ten days ago.


Stocks of hot-rolled coil came in at 2.33 million tonnes in late February, up 15.9% from ten days ago, and that of cold-rolled coil was 1.43 million tonnes, climbing 1.4% from the previous ten days.


Medium-thick plate stocks stood at 1.37 million tonnes, up 4.6% from ten days ago, while wire stocks increased 17.7% to 1.73 million tonnes.


The CISA data also showed rebar stocks stood at 6.81 million tonnes as of February 29, rising 15.0% from ten days ago.


(Writing by Riley Liang  Editing by Harry Huo)
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