Inventory of five major steel products in China's 21 cities continued to rise in late January (January 21-31), up 5.2% or 0.43 million tonnes from mid-January to 8.66 million tonnes, according to data from the China Iron and Steel Association (CISA).

The volume, however, was 25.2% or 2.92 million tonnes lower than the year-ago level, data showed.

As of January 31, northern China saw stocks increase 150,000 tonnes or 13.4% from ten days ago, the biggest increment and the largest growth among all regions. Southern China registered a 120,000 tonnes or 6.9% increase in stocks compared to ten days earlier.

Steel stocks in northwestern China rose 70,000 tonnes or 11.1% compared to the previous ten days. That of eastern China increased 40,000 tonnes or 1.7% from ten days earlier, according to the CISA.

Stocks in central China increased 30,000 tonnes or 3.7% from ten days ago. That of southwestern China grew 30,000 tonnes or 2.5% from the preceding session, while inventories in northeastern China decreased 10,000 tonnes or 2.4% compared with ten days ago.

Stocks of hot-rolled coil came in at 1.55 million tonnes in late January, up 2.6% from ten days ago, and that of cold-rolled coil was 1.12 million tonnes, climbing 1.8% from the previous ten days.

Medium-thick plate stocks stood at 1.06 million tonnes, up 1.0% from ten days ago, while wire stocks increased 6.1% to 1.05 million tonnes.

The CISA data also showed rebar stocks stood at 3.88 million tonnes as of January 31, rising 8.4% from ten days ago.

(Writing by yan.sun  Editing by Harry Huo)
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