Steel stocks at Chinese traders up by another 5.3% on week
Jan 14, 2021 18:00
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The inventories of finished steel at trading warehouses across China increased for the third week over January 8-14, as steel demand continued to soften from the sudden freeze in temperatures and the virus resurgence, especially in North China, new Mysteel data shows. However, the space for steel prices to decline remains limited, sources said.
The stocks of five major steel items held by the traders in 132 cities Mysteel monitors moved up further by 745,800 tonnes or 5.3% on week to 14.7 million tonnes as of January 14, according to the latest survey. The five products comprise rebar, wire rod, hot-rolled coil, cold-rolled coil