WEEKLY: China's retail steel stocks decline at a faster pace

Retail inventories of the five major finished steel products in China declined further and faster during the December 5-11 from a week prior, according to Mysteel's latest weekly survey.

The combined stocks of rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate held by traders at commercial warehouses in the 132 cities Mysteel regularly checks fell by 2.9% or 455,300 tonnes on week to hit 15.5 million tonnes as of December 11. During the week of November 28-December 4, stocks of