WEEKLY: Chinese mills' steel stocks down for 5th week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined over April 10-16 to 4.71 million tonnes, slipping for the fifth consecutive week by 1.8% on week.

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 the long steel items continued declining, offsetting the slight accumulation in inventories of flats, the findings showed. The continuous fall was mainly attributed to the lower output