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China’s steel-trader stocks dip faster on stable demand

Stocks of the five major finished steel products held by steel traders in 132 cities across China regularly checked by Mysteel declined at a faster pace over April 24-30, thinning by 6.5% on week as against the week-on-week fall of 5.3% seen in the prior week, Mysteel’s latest survey published on April 30 showed. Behind the dip was the country’s rather stable domestic demand, respondents said.
Inventories of the five items – consisting of rebar, wire rod, hot-rolled and cold-rolled coil as well as medium plate – declined by another 1.97 million tonnes to 28.16 million tonnes as of April 30, according to the survey. The stocks have thinned at a rather steady speed for seven

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