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Chinese retail steel stocks rise further

Steel stocks held by traders across China increased over the first week after the Chinese New Year holiday, rising by 16.4% on week as mills passed along some stocks to traders, Mysteel Global noted.
Over February 18-25, retail inventories of rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate held by traders in 132 cities across the country sampled by Mysteel had increased by 4.6 million tonnes from the total as of February 17 to reach 32.8 million tonnes, according to Mysteel’s latest


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