Steel stock reaches 4-year low

The steel stock in 29 major cities across the country hit a four-year low after the Spring Festival holidays, news portal yicai.com reported Wednesday, citing data from the Beijing Lange Steel Information Research Center.

The total domestic steel stock reached 15.83 million tons in the 29 major cities after the holidays, up 2.19 million tons from the week before the holidays, the report said.

The 2.19 million ton increase was the lowest compared with the same period in the last three years, it said.

The total domestic steel stock of 15.83 million tons in the first week after the Spring Festival holidays also hit the lowest level in the four years, the report said.