SHANGHAI, Dec 27 (SMM) – Social inventories of five major types of steel products across 20 cities extended declines in December as they shrank 4.1% from November to stand at 8.24 million mt, according to data released by China Iron and Steel Association (CISA) on December 27. 

Stocks of hot-rolled coil, among the surveyed five kinds of products, registered the biggest decline by 17% on a monthly basis. 

Among total steel social inventories, stocks across the markets decreased 6.7% from November to 7.22 million mt, while port stocks grew 18.4% to 1.02 million mt.