Chinese traders see steel stocks thin on improving demand

Inventories of the five major steel items held by traders across China under Mysteel's tracking reversed down during August 11-17 after increasing for the previous seven weeks, the weekly survey results show.

The decline reflected the slight recovery in demand from building contractors, with the impact of the intense rains in the northern parts of the country easing, and market sentiment being propped up by rising futures prices, sources remarked. The stocks of rebar, wire rod, hot-rolled coil, cold-rolled coil and medium