WEEKLY: Chinese mills' steel stocks jump 9% during National Day holiday

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey posted a significant rise during China's National Day holiday over October 1-7, with the total tonnage rising by 9.3% from the end of September to reach 4.2 million tonnes.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. During the latest survey period, inventories of all five steel items increased by varying degrees, with those of wire rod and rebar seeing the sharpest rises in percentage terms. Transactions of finished