MYSTEEL: Steel end-users balk at pre-holiday restocking

Though many Chinese steel users are showing some interest in building their inventories of construction steel before the country's Labour Day holiday over May 1-5, a large number are planning to delay buying and reduce the tonnage they set aside, according to Mysteel's latest survey.

The five-day holiday will see many steel traders leave the market for the break and logistics services will be disrupted to some extent, so building contractors planning to continue operating for some or all of the holiday period will need to replenish their stocks of construction steel while they