WEEKLY: China's retail steel stocks swell ahead of CNY break

Retail inventories of the five major carbon steel products in warehouses across China regularly checked by Mysteel climbed for the sixth consecutive week over February 6-12, according to Mysteel's latest weekly survey, as business has slowed ahead of the Chinese New Year (CNY) break.

The combined stocks of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate held by traders and piled in commercial warehouses in the 132 cities Mysteel regularly monitors climbed by 8.6% or 1.36 million tonnes on week to reach 17.21 million tonnes as of February 12,