Inventory of five major steel products in China's 21 cities fell at a slower rate in mid-November (November 11-20), down 2.4% or 0.19 million tonnes from early November to 7.73 million tonnes, according to data from the China Iron and Steel Association (CISA).

The volume was 2.9% or 0.22 million tonnes higher than the year-ago level, data showed.

Southern China saw stocks decrease 50,000 tonnes or 2.4% from ten days ago, marking the largest reduction among other regions. Southwestern China registered a 40,000 tonnes or 3.4% fall in stocks.

Eastern China saw stocks drop 30,000 tonnes or 1.4% from ten days ago. Steel stocks in northeastern China registered a 20,000 tonnes or 5.4% decrease, posting the steepest decline rate among other regions.

In northwestern China, steel stocks decreased 20,000 tonnes or 4.1% compared to the previous ten days, while that in northern China fell 20,000 tonnes or 2.6%. In central China, the inventory dropped 10,000 tonnes or 1.1% from the preceding session.

The CISA data also showed rebar stocks stood at 2.95 million tonnes during the session ending on November 20, falling 3.3% from ten days ago.

Stocks of hot-rolled coil came in at 1.78 million tonnes, down 2.7% from ten days ago, and that of cold-rolled coil was 1.07 million tonnes, up 0.9% from the previous ten days.

Medium-thick plate stocks stood at 1.09 million tonnes, down 3.5% from ten days ago, and wire stocks descended 1.2% to 0.84 million tonnes.

(Writing by Riley Liang  Editing by Harry Huo)
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