WEEKLY: Chinese mills' steel stocks rise slightly

Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey increased slightly during the period of October 30-November 5, with the total tonnage up by 0.7% on week to 3.77 million tonnes. This brought an end to the rally of the previous three weeks, Mysteel Global notes.

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 rebar and HRC increased, offsetting the decrease in stocks of other major items, the survey results showed. One major reason for the rise in inventories