WEEKLY: China's retail steel stocks drop further

Retail stocks of the five major finished steel items stored in the commercial warehouses across China regularly checked by Mysteel eased for the fifth week in a row during April 10-16, the results of Mysteel's latest weekly survey show.

The combined inventories of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate stockpiled in warehouses in the 132 cities under Mysteel's tracking had thinned by 2.5% or 547,800 tonnes on week to 21.71 million tonnes as of April 16. Despite the on-week decline, the level was still higher