WEEKLY: Chinese mills' steel stocks fall below 4 million t

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey thinned again during November 21-27, with the total tonnage slipping for the seventh straight week by 2.5% on week to 3.9 million tonnes as of Thursday, the lowest since late January.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. Inventories of rebar, wire rod and plate declined during the survey period, contributing to the continuous fall in total steel stocks held by mills, the survey results showed. Some domestic steelmakers resumed