WEEKLY: Chinese mills' steel stocks dip further

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey continued to move down slightly over December 19-25, with the total tonnage down for the second week by 0.7% on week to sit at 3.85 million tonnes.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. During the latest survey period, inventories of wire rod, HRC and medium plate declined by varying degrees, offsetting the rise in stocks of rebar and CRC, the survey results showed. The continuous