WEEKLY: China's retail steel stocks drop for four weeks

Total stocks of five major carbon steel products - rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate - piled at commercial warehouses in 132 Chinese cities declined further over November 7-13, according to Mysteel's latest weekly survey.

The stockpiles moved down by 1.2% or 209,600 tonnes on week to 17.09 million tonnes as of November 13, marking declines for four weeks straight, the survey results showed. Although compared with the year-ago level, the volume was still 21.8% higher, suggesting certain inventory pressure among steel traders. Among these