Inventory of five major steel products in China's 21 cities decreased 5.9% to 7.48 million tonnes in mid-December (December 11-20) compared to early December, according to data from the China Iron and Steel Association (CISA).

The volume, however, was 11.5% or 0.77 million tonnes higher than the year-ago level, data showed.

As of December 20, steel products stocks in five of China's seven steel production regions recorded decreases. Eastern China saw the biggest decrement of 290,000 tonnes and the steepest decrease rate of 12.6% from early December. Steel products stocks in northern and northwestern China remained unchanged.

Stocks of hot-rolled coil stood at 2.02 million tonnes as of December 20, down 1.5% from early December, while that of cold-rolled coil declined 0.8% to 1.30 million tonnes.

Medium-thick plate stocks stood at 1.02 million tonnes, remaining flat compared to early December, and wire stocks declined 13.3% to 0.52 million tonnes.

The CISA data also showed rebar stocks retreated 11.8% from early December to 2.62 million tonnes as of December 20.