WEEKLY: China's retail steel stocks drop for a 6th week

Retail stocks of the five major finished steel items stored in the commercial warehouses across China regularly checked by Mysteel retreated for the sixth consecutive week during April 17-23, the results of Mysteel's latest weekly survey reveal.

As of April 23, the total inventories of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate held by traders in the 132 cities under Mysteel's tracking had eased by 3.7% or 798,700 tonnes on week to 20.91 million tonnes. Despite the further on-week decline, the level