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

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined by 3.1% on week over May 22-28 to reach 4.16 million tonnes, more than offsetting the previous week's 3% rise.

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 declined by varying degrees, while the stocks of CRC climbed by 3.5% from the previous week, the findings showed. Steel inventories held by