WEEKLY: China's retail stocks of major steel items decline further

Inventories of the five major carbon steel products held in the commercial warehouses of Chinese traders in the 132 cities under Mysteel's tracking declined further during October 24-30, the findings of Mysteel's latest weekly survey show.

The traders' stocks of the five major steel items – rebar, wire rod, medium plate, hot-rolled coil (HRC) and cold-rolled coil (CRC) – totalled 17.43 million tonnes as of October 30, down by 1.7% or 309,000 tonnes from the level on October 23. Inventories of each of the five products logged on-week falls,