UTC+8 ( BJT)

Chinese traders' stocks dip further by 2% over Aug 5-11


Finished steel inventories held by traders across China continued falling over August 5-11, according to Mysteel data. The decline reflected fewer deliveries arriving at the traders' warehouses compared with the previous week, despite the sullen demand from end-users, sources commented.
The stocks of the five major steel items at trading houses in the 132 cities monitored by Mysteel declined for the eighth week in a row, slipping by another 2.4% or 490,800 tonnes on week to 19.8 million tonnes as of August 11, as against the 603,700 tonnes on-week fall


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