WEEKLY: Chinese mills' steel stocks slip further

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined again over November 28-December 4 to reach 3.87 million tonnes, falling for the eighth consecutive week by 1.6% on week.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. Inventories of most major steel items decreased by varying degrees during the survey period, except for an on-week rise of 2.4% in HRC stocks, the findings showed. The continuous fall in mills'