Stocks of the five major finished steel items at Chinese traders and steel mills declined further during the week of September 5-11, mainly due to the fact that actual demand witnessed increases as downstream consumers showed stronger intention for making procurement, Mysteel Global learned from the market. 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 declined for a fifth consecutive week last week by another 4.3% on week to 11.6 million tonnes as of September 11.
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