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WEEKLY: China mills’ steel stocks empty by another 0.7%

Stocks of the five major finished steel products held by the 184 Chinese steel mills under Mysteel’s regular survey continued to thin over February 25-March 3, thanks to the further recovery in demand from end-users, though the on-week fall slowed to 0.7% against the prior week’s 1.1%.
Totalstocks of the five productscomprisingrebar, wire rod, hot-rolled coil, cold-rolled coil and medium plateat the surveyed mills’ yardsregistered 9.7 million tonnes as of March 3, lower by another 70,700 tonnes from the prior week, according to Mysteel’s latest weekly survey. “More than 80% of downstream users have resumed normal production by now, leading to the significant

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