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China traders’ steel stocks shrink faster on firm demand

Inventories of the five major steel products held by traders across China slipped further and at a faster pace over April 3-9, mainly thanks to the strong demand appearing during the period. Nevertheless, traders still showed no inkling of wanting to step up prices amid the high stocks and production, Mysteel Global noted.
Stocks of the five steel items comprising rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate held by traders in 132 cities across China decreased for a fourth week to 33.76 million tonnes as of April 9, according to Mysteel’s latest stocks survey. The slide of 4.2% on week

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