Telah Terbit: Aug 8, 2024 17:30
[SMM Construction Materials Inventory: Market Worried about Old Standard Resources, Inventory Depletion Accelerates] This week, the depletion of construction materials continued to accelerate, with the total inventory of rebar reaching 6.698 million tonnes, a decrease of 211,200 tonnes from the previous week, mostly in social inventories. On the supply side, the switch from old to new standards triggered a rapid decline in steel prices, leading to widespread production reduction plans among both long and short-process steel mills, with a notable decrease in construction material output. On the demand side, persistent high temperatures and a lack of macroeconomic stimulus have continued to push steel prices downward, dampening downstream purchasing enthusiasm and maintaining rigid demand as the mainstay. In summary, the pattern of weak supply and demand during the off-season continues, with a notable decline in output and sustained inventory depletion...

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[SMM Construction Materials Inventory: Market Worried about Old Standa - Shanghai Metals Market (SMM)