Stocks of the five major finished steel items at Chinese traders and steel mills declined during the week of August 29-September 4, as steel demand from downstream users recovered gradually amid the traditional peak season for steel consumption over September-October, Mysteel Global has learned.
Total inventories of the five major steel items comprising rebar, wire rod, hot-rolled coil, cold rolled coil, and medium plate held by trading houses in China’s 35 major cities, slipped for a fourth consecutive week to reach 12.1million tonnes as of September 4, down 2.7% on week. The size of the on-week decline was