China steel product stockpiles fall this wk

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