WEEKLY: China's retail steel stocks drop further on week

Retail inventories of the five major carbon steel products in the warehouses across China regularly checked by Mysteel thinned for the third consecutive week during March 27-April 2, 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 stockpiled in commercial warehouses in the 132 cities Mysteel monitors had retreated by 2.1% or 479,700 tonnes on week to 22.64 million tonnes as of April 2. Despite the on-week decline, the tonnage was