WEEKLY: Chinese mills' steel stocks fall 5% on week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined during the week of May 8-14 after the slight rise over the prior week, with the total tonnage sliding by 4.9% on week to reach 4.17 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 most major steel items decreased by varying degrees, the slight accumulation in stocks of medium plate being the exception, the findings showed. The on-week fall in total