WEEKLY: Steel stocks at Chinese mills edge down

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined slightly during February 27-March 5, with the total volume edging down 0.3% on week to reach 5.49 million tonnes. Though minuscule, the fall ended the continuous rise over the prior four weeks.

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 flat steel declined by varying degrees, offsetting the further accumulation in those of long steel, the survey results showed. Steel demand in China has been recovering since