China retail steel stocks climb 3.7% over holiday break

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Total stocks of five major finished steel products held by the Chinese trading houses under Mysteel tracking reversed up from nine straight weeks of declines over October 1-7, rising by 3.7% or 758,900 tonnes on week, mainly due to the tepid trading during the National Day holiday break.

As of October 7, total inventories of the five major products comprising rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate held by surveyed traders in the 132 cities Mysteel canvasses had risen to 21.1 million tonnes. During the week, the survey showed that all five items registered on-week gains in their stocks,


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