[Most downstream construction sites stalled during the holiday, leading to a phased buildup in social inventory]

Published: Oct 08, 2026 18:13 (GMT+8)

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Construction steel social inventory: According to an SMM survey, total construction steel social inventory shifted from decline to increase this period. As of October 8, 2026, SMM construction steel social inventory stood at 4.5579 million mt, up 129,400 mt WoW, an increase of 2.92%. This was mainly because most downstream construction sites were in a semi-stalled state during the holiday, with construction progress relatively slow and procurement volume dropping noticeably, resulting in a phased inventory buildup. Regional social inventory: Inventory performance diverged across regions this period. In the northwest region, temperatures dropped during the holiday, and market transactions in the province were relatively mediocre. Steel mill resources continued to be shipped to surrounding areas, and local social inventory kept destocking. In central China, Hubei steel mills showed poor profitability and, considering sluggish shipments during the holiday, opted to reduce production, resulting in a relatively small inventory increase this period. Henan, however, saw a larger inventory buildup due to increased arrivals of external resources. Inventory performance in other regions was basically normal.

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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