WEEKLY: Chinese mills' steel stocks fall further

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey fell further during November 7-13, with the total tonnage down for the fifth straight week by 2.9% on week to reach 4.16 million tonnes.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. During the survey period, inventories of rebar, wire rod and medium plate continued to decline, while those of HRC and CRC increased slightly, the findings showed. The steady decline in mills' total