WEEKLY: Chinese mills' steel stocks dip further to 7.5-mth low

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey continued falling during the week of September 11-17, with the total volume down for the sixth straight week at 3.92 million tonnes. Though the on-week dip was only 0.3% on week, the total was still the lowest since early February.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. During the survey period, inventories of long steel declined slightly, while those of flats accumulated by varying degrees, the survey results showed. The further decline in mill inventories was mainly attributed to