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China retail steel stocks mark first fall in 7 weeks

ABSTRACT

The stocks of finished steel products held by Chinese trading houses monitored by Mysteel reversed down over July 30-August 5 after seven straight weeks of gains, with the inventories dipping by an albeit tiny 0.7% on week, according to the weekly stocks survey. Some end-users replenished stocks when steel prices showed signs of stabilizing, market sources said.
As of August 5, total inventories of the five major carbon steel products comprising rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate held by the surveyed traders in 132 cities under Mysteel’s tracking had slipped by 166,400 tonnes on week to reach 23.3 million tonnes. Among the

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