WEEKLY: Chinese mills' steel stocks rise 2% on week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey edged higher during January 16-22 after the decline during the prior week, with the total tonnage rising by 2.1% on week to 3.89 million tonnes.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil and medium plate. During the survey period, inventories of medium plated dipped by 0.5% from the prior week, while those of other major steel items increased by varying degrees, the findings showed. Steel demand from end-users