Steady fall in Chinese traders’ steel stocks as sales firm
Oct 29, 2020 18:00
Stocks of the five major carbon steel products across China tracked by Mysteel declined for the third week at a steady pace over October 23-29 as the actual demand remained firm. But some in the market are worried about demand and prices in the coming November, Mysteel Global noted.
The inventories of rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate at trading warehouses in China’s 132 cities reached 19.5 million tonnes as of October 29, lower by 1.2 million tonnes or about 5.7% on week, as against the 1.1 million tonnes on-week drop in the prior period,