WEEKLY: Chinese mills' steel stocks mount 3% on week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey mounted during the week of May 15-21 to reach 4.3 million tonnes. This marked an on-week rise of 3% and offset the previous week's decline.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil and medium plate. Apart from the dip in inventories of medium plate, stocks of the other major steel items increased by varying degrees during the survey period, the findings showed. The accumulation in total steel stocks