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China steel product stockpiles fall this wk

Edit:Nina     Click:2114     Time:2010-11-26 19:10:06
Stockpiles of steel products in major Chinese cities fell again this week after more rolling mill shutdowns in Tangshan city in the northern province of Hebei.

Non-steel mill stockpiles of rebar fell to 4.21 million tonnes by Friday, down 2 percent on the week. The falling inventories have lifted spot steel prices 2 percent this week from a week earlier.

Following is a table showing stockpile movements for key steel products over the past seven days.

Product Stockpile Level % Change
Rebar 4.21 mln T -2.0
Hot rolled coil 5.02 mln T -2.0
Cold rolled coil 1.48 mln T +0.7
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