WEEKLY: Chinese mills' steel stocks fall for 3rd week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined further during December 26-31 to reach 3.81 million tonnes, lower by 1.1% from the prior survey period that ended on December 25 and marking the third straight on-week decline. The survey period was shortened by a day due to China's New Year's holiday over January 1-3.

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 most of the five steel items slipped by varying degrees except for the rise of 2.2% in HRC stocks, the findings showed. Some end-users returned