WEEKLY: Chinese mills' steel stocks slip faster

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey continued the decline during the week of March 20-26 to reach 5.1 million tonnes, down for the second week and at the faster pace of 4.7% on week, compared with the previous week's 3% decrease.

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 all five steel items slipped by varying degrees, with those of rebar and wire rod posting the sharpest on-week falls, each down 7.2%. Domestic steel demand from