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China retail steel stocks hit 10-m low on improved buying

ABSTRACT

Stocks of five major steel products at commercial warehouses across the 132 Chinese cities under Mysteel tracking hit a 10-month low of 15.8 million tonnes as of November 25, as buying sentiment improved with the pickup in steel prices and the acceleration of work on construction projects before year-end.
Over November 19-25, stocks of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate declined for the seventh week in a row, down another 711,400 tonnes or 4.3% on week, according to the survey.   Among these five major steel products, rebar posted the sharpest decline, falling 6.9% on

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