WEEKLY: Chinese mills' steel stocks fall 2% on week

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined for the seventh consecutive week during the period of September 18-24 to touch an eight-month low of 3.83 million tonnes, slipping by 2.2% from one week before.

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 items declined, offsetting the rise in stocks of HRC and CRC, the findings showed. Many domestic steel mills slowed production this week given their