WEEKLY Chinese mills' steel stocks fall 4% on week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey fell during the period of August 7-13, with the total volume declining by 3.9% on week to a two-month low of 4.36 million tonnes.

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 of the five items slipped by varying degrees, except for a slight on-week rise of 1.6% in CRC stocks, the survey results showed. In parallel, inventories