WEEKLY: Decline in China's retail steel stocks widens on week

Retail stocks of the five major finished steel items stored in the commercial warehouses across China that Mysteel regularly checks declined faster during May 8-14, compared with the dip the week before, the results of Mysteel's latest weekly survey revealed.

As of May 14, 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 dropped by 3.7% or 749,800 tonnes on week to 19.47 million tonnes, a much steeper decline than the