WEEKLY: Chinese mills' steel stocks rise slightly

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey rose during the week of May 1-7 with the total volume edging up by 1.2% on week to reach 4.39 million tonnes. The survey period included China's May Day holiday spanning May 1-5, with the increase halting the continuous fall in stocks monitored over the prior seven weeks.

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 most major steel items climbed by varying degrees, offsetting the decrease in stocks of medium plate, the survey results showed. The accumulation was mainly due to the