[SMM Construction Steel Inventory: Stable Supply and Increasing Demand Accelerate Destocking of Construction Steel. Can the Destocking Speed Be Maintained After the Holiday?] This week, the total inventory of construction steel continued to destock. The total inventory of rebar decreased by 5.94% WoW, and the total inventory of wire rod decreased by 7.27% WoW.

On May 1, SMM reported that the total rebar inventory for the week was 6.1678 million mt, a decrease of 389,600 mt WoW, down 5.94% WoW, and down 25.16% YoY on the lunar calendar. The total wire rod inventory nationwide was 1.1916 million mt, a decrease of 93,500 mt WoW, down 7.27% WoW, and down 32.93% YoY on the lunar calendar.

Driven mainly by restocking demand ahead of the holiday, along with a slower pace of arrivals since the second half of April and a temporary end to disruptions from imported supplies, the destocking of domestic aluminum ingot inventory accelerated again by month-end April, approaching the 600,000 mt mark, providing a certain degree of upward support for aluminum prices ahead of the holiday. According to SMM statistics, as of April 30, the inventory of aluminum ingots in major domestic consumption areas stood at 614,000 mt, down 29,000 mt from Monday this week, with destocking of 44,000 mt WoW from Thursday last week, and a decrease of 177,000 mt YoY, remaining at a low level compared to the same period in the past three years. In terms of outflows from warehouses...