WEEKLY: China's retail steel stocks drop amid post-holiday restocking

Retail stocks of the five major carbon steel items held by the Chinese traders that Mysteel regularly checks declined moderately during October 8-14, the results of Mysteel's latest survey show. The fall was attributed to restocking among end-users after the weeklong National Day holiday over October 1-7.

As of October 14, 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 thinned by 2.8% or by 515,300 tonnes on week to 17.8 million tonnes, the survey results revealed. However, although spot