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WEEKLY: China mills’ steel stocks down, output retreats

ABSTRACT

Stocks of the five major finished steel products at the 184 Chinese steel mills sampled under Mysteel’s weekly survey declined for the third week over July 15-21, shrinking by another 2.3% on week, as mills’ finished steel output retreated from the increase in maintenance shutdowns during that period.
Total stocks of the five major items comprising rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate reached 6.2 million tonnes as of July 21, down another 145,800 tonnes on week. Among the total, inventories of rebar posted the sharpest on-week fall of 128,000 tonnes with the significant decline in production, the survey

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