WEEKLY: Chinese mills' steel stocks decline for 4th week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey thinned for a fourth consecutive week during October 31-November 6, with the total volume declining by a small 1.9% on week to sit at 4.29 million tonnes.

However, the decrease in the mills' total inventories slowed during the week compared with the on-week fall of 4.1% over the prior week, as transactions in the physical market declined with the shrinking demand from end-users ahead of the winter lull and the softening market sentiment. The five major steel