WEEKLY: Chinese mills' steel stocks slip further

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey continued the downtrend over April 3-9, with the total tonnage easing for the fourth consecutive week by 2% on week to 4.79 million tonnes.

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 wire rod seeing the sharpest on-week fall, the survey results showed. However, the on-week decrease was