[SMM Analysis] Construction Material Demand Saw Periodic Release This Period

Published: May 14, 2026 10:53

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According to SMM statistics, both mill inventory and social inventory declined to varying degrees, with total construction material inventory at 8.1396 million mt, down 348,200 mt WoW (-11.68%), with destocking accelerating.

Supply side, some blast furnace steel mills shut down construction material rolling lines for maintenance due to product mix adjustments; EAF steel mills saw slight improvement in per-mt comprehensive profitability, with some electric furnaces resuming production or raising operating hours, leading to a slight increase in overall construction material production. Demand side, rebar futures rose strongly in the first half of this period to a new high since the beginning of this year, spot prices followed suit, and the market showed a rush to buy amid continuous price rise and hold back amid price downturn mentality, with trading activity improving notably and end-user enthusiasm for purchasing at low prices increasing. According to SMM statistics, both mill inventory and social inventory declined to varying degrees, with total construction material inventory at 8.1396 million mt, down 348,200 mt WoW (-11.68%), with destocking accelerating.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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