[SMM Rebar Weekly Inventory in Hangzhou] Inventory remained at previous level due to insufficient market confidence and weak demand

As of May 29, the social inventory of rebar in Hangzhou was 1.042 million mt, flat WoW, up 254,000 mt YoY.

Recently, the arrival of resources from various steel mills has been normal. Spot prices have been fluctuating weakly during the week. End-users have been restocking as needed, speculative demand has decreased, and transactions have weakened. Additionally, with the traditional off-season approaching, spot agents are maintaining low inventory and adopting a cautious wait-and-see approach.