WEEKLY: Chinese mills' steel stocks mount faster

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey rose further during the period of June 19-25 to reach 4.56 million tonnes, swelling at the faster pace of 5.8% on week, as against the tiny uptick of 0.7% seen the week before.

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 all five major steel items increased by varying degrees, with the stocks of wire rod showing the sharpest on-week rise of 10.7%, the findings indicated. The continuous