WEEKLY: Chinese mills' steel stocks down for 3rd week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined for the third consecutive week during March 27-April 2 to reach 4.89 million tonnes, falling by 4.2% from one week before.

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 decreased by varying degrees, with those of long steel falling faster, the findings showed. Finished steel demand from end-users recovered further with the