[SMM Analysis] Construction Material Total Inventory Destocking Accelerated This Week

Published: Apr 30, 2026 11:35

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According to SMM statistics, both mill inventory and social inventory continued destocking, with total construction material inventory at 8.519 million mt, down 467,800 mt WoW (-5.20%), with the destocking slope accelerating.

Supply side, most steel mills maintained current production levels this period, with poor electric furnace profitability in some regions leading to reduced operating hours or shutdowns at local electric furnace steel mills. Demand side, with the Labour Day holiday approaching, end-user restocking demand at low prices before the holiday increased, and market trading sentiment was moderate. According to SMM statistics, both mill inventory and social inventory continued destocking, with total construction material inventory at 8.519 million mt, down 467,800 mt WoW (-5.20%), with the destocking slope 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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