WEEKLY: Dull steel demand ends China's 14-week fall in retail steel stocks

Retail stocks of the five major carbon steel items stockpiled in the commercial warehouses across China that Mysteel regularly monitors rose by nearly 2% during the week of June 19-25, bringing an end to the 14-week slide in stocks, the results of Mysteel's latest weekly survey showed. Survey respondents blamed sluggish spot trading during the steel demand off-season.

Proof of the lacklustre demand showed in the 5.6% fall in the combined daily trading volume of construction steel over June 18-24 among the 237 trading houses nationwide under Mysteel's tracking which averaged 86,869 tonnes/day, lower by 5,162 t/d on week. As of June 25, the total inventories of rebar,