WEEKLY: Chinese mills' steel stocks rise slightly

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey reversed up during the period of July 17-23 to reach 4.51 million tonnes, rising slightly by 0.8% on week and ending the decline witnessed over the prior three weeks.

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 increased by varying degrees except for an on-week dip of 0.5% in stocks of rebar, the survey results showed. One major reason for