Inventory of five major steel products in China's 21 cities continued to fall with an expanding decline rate in late October (October 21-31), down 4.8% or 0.43 million tonnes from mid-October to 8.57 million tonnes, according to data from China Iron and Steel Association (CISA).

The volume was 2.5% or 0.21 million tonnes higher than the year-ago level, data showed.

Eastern China saw stocks decrease 0.16 million tonnes or 6.5% from ten days ago, marking the largest decrease among other regions. Southwestern China registered an 80,000 tonnes or 6.1% fall in stocks.

Northern China saw stocks drop 60,000 tonnes or 7.1% from ten days ago. Steel stocks in central China registered a 60,000 tonnes or 5.6% decrease.

In southern China, steel stocks decreased 60,000 tonnes, down 2.5% compared to the previous ten days, while that in northeastern China fell 20,000 tonnes or 5.0%.

Steel inventory in northwestern China grew 10,000 tonnes or 2.1%.

The CISA data also showed rebar stocks stood at 3.36 million tonnes during the session ending on October 31, falling 6.9% from ten days ago.

Stocks of hot-rolled coil came in at 1.96 million tonnes, down 4.9% from ten days ago, and that of cold-rolled coil was 1.16 million tonnes, down 1.7% from the previous ten days.

Medium-thick plate stocks stood at 1.19 million tonnes, down 1.7% from ten days ago, and wire stocks descended 4.3% to 0.90 million tonnes.

(Writing by Riley Liang  Editing by Emma Yang)
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