WEEKLY: China's retail steel stocks build faster as CNY looms

Retail inventories of the five major carbon steel products in warehouses across China regularly checked by Mysteel rose for the fifth consecutive week over January 30-February 5, according to Mysteel's latest weekly survey.

The combined stocks of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate held by traders in commercial warehouses in the 132 cities Mysteel regularly monitors climbed by 5.2% or 776,500 tonnes to reach 15.85 million tonnes as of February 5, the survey results showed. During