WEEKLY: Chinese mills' steel stocks edge down

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey edged down during December 12-18 after the accumulation over the prior week, with the total volume drifting lower by a tiny 0.5% on week to reach 3.88 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 most major steel items dipped by varying degrees, except for the 1.5% on-week rise in stocks of medium plate, the findings showed. China's finished steel output