WEEKLY: Chinese mills' steel stocks ease for 2nd week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey thinned slightly during the period of July 3-9 to reach 4.5 million tonnes, lower for a second week but only by a tiny 0.3% on week.

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 long steel accumulated, while those of flats declined by varying degrees, the findings showed. Construction steel demand remained weak during the period, prompting some long steel producers