WEEKLY: Chinese mills' steel stocks slip slowly

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey continued declining over December 20-26 to reach 3.5 million tonnes, though the on-week fall had slowed to 0.1%, as against the decrease of 3.4% during the prior week.

The five steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. During the survey period, the on-week decrease was mainly seen in the stocks of wire rod and CRC, while inventories of other steel items increased by varying degrees, the findings showed. Both supply