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WEEKLY: China mills’ steel stocks drop to 8.5-month low


Stocks of the five major finished steel products at the 184 Chinese steel mills sampled under Mysteel’s weekly survey declined to an 8.5-month low of 5.49 million tonnes over September 16-22, mainly due to the reduction in output from the tough restrictions imposed on energy consumption among Chinese steel mills.
Total inventories of the five major steel products comprising rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate slipped for the fifth consecutive week over September 16-22, seeing a sharper decrease of 6% on week against the prior on-week fall of 2%. Among the total, stocks of rebar and wire rod posted the largest


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