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WEEKLY: China steel mills’ coke stocks at 3-month low

Coke stocks at the 110 Chinese steel mills under Mysteel’s regular survey decreased for a fourth straight week as of May 28, declining by another 20,200 tonnes on week to reach a three-month low of 4.63 million tonnes, chiefly because steel mills remain determined to observe normal production, survey respondents explained.
The existing stocks could sustain these steel mills’operations for 14.47 days on average, or 0.11 day less than the prior week. Despite the recent softening of domestic steel prices, the margins domestic steel mills can enjoy on their finished steel were still comparatively decent and finished steel stocks had been steadily shrinking, thus encouraging steelmakers


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