WEEKLY: China's retail steel stocks fall for a 12th week

Retail stocks of the five major carbon steel items stockpiled in the commercial warehouses across China that Mysteel regularly monitors declined for a twelfth consecutive week over May 29-June 4, the results of Mysteel's latest weekly survey revealed.

As of June 4, 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 edged down by 1.1% or 209,600 tonnes on week to 18.66 million tonnes, the survey results showed. The destocking