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WEEKLY: China mills’ steel stocks down to year's low


Stocks of the five major finished steel products at the 184 Chinese steel mills sampled under Mysteel’s weekly survey declined for the fourth week over September 23-29 to hit the year's low of 4.98 million tonnes, mainly thanks the further drop in mills' steel output and the steady demand from end-users.
Total inventories of the five major steel products comprising rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate posted a sharper fall of 504,400 tonnes or 9.2% on week over September 23-29 against the previous on-week decline of 6%. Among the total, stocks of rebar and wire rod posted the largest decline of 13.4%


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