China’s steel stocks at traders down on demand recovery

The stocks of five major steel products among the traders in China’s 132 cites declined further and faster over April 10-16, down 5.7% on week as against the 4.2% drop in the prior week, thanks to the better demand from the downstream users, Mysteel Global noted.
The inventories of rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate at these traders declined in a row for the fifth successive week to 31.8 million tonnes as of April 16, according to Mysteel’s latest weekly stocks survey, among which, rebar and wire rod stocks accounted for 22.8


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