Steady fall in Chinese traders’ steel stocks as sales firm

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,