WEEKLY: China's retail steel stocks drop further on week

Retail stocks of the five major carbon steel items held by the Chinese traders that Mysteel regularly checks fell for the second consecutive week during August 14-20, according to the results of Mysteel's latest weekly survey.

As of August 20, the combined inventories of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate held by traders in the 132 cities Mysteel monitors had dipped further by 0.6% or by 121,800 tonnes on week to 19.29 million tonnes, the survey results revealed. By product,