WEEKLY: China's retail steel stocks slide to 11-mth low

Inventories of the five major carbon steel items in China dropped for the tenth week straight over December 19-25 to hit the lowest level in 11 months, according to Mysteel's weekly survey.

The combined stocks of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate held by traders or piled in warehouses across 132 Chinese cities under Mysteel's tracking slipped to 14.5 million tonnes by December 25, logging the lowest record since late January and down by 3.4%