WEEKLY: Lower output sends China's retail steel stocks lower again

Retail inventories of the five major finished steel products in China continued to decline over November 28-December 4, primarily due to the broad production reduction over the survey week, according to Mysteel's latest weekly survey.

The combined stocks of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate held by traders and piled at commercial warehouses in the 132 cities Mysteel regularly checks posted broader losses over the survey week, down by 2.4% or 395,600 tonnes on week to 15.96 million