WEEKLY: Chinese mills' steel stocks slip to 10-mth low

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined for the sixth consecutive week over November 14-20, with the total volume edging lower by another 2.9% on week to touch a 10-month low of 4.04 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 declined steadily, while those of HRC and CRC mounted further, the findings showed. The further decline in mills' steel inventories