SHANGHAI, May 24 (SMM) – Rebar inventories across mills in China rose 1.8% from a week ago to stand at 2.22 million mt as of Thursday May 24, SMM data showed. This marked the second consecutive week of growth after six consecutive weeks of decline.
Overall rebar inventories, including social inventories and inventories at mills, shrank 4.3% and registered at 7.72 million mt. This is the smallest week-on-week decline in seven weeks.
Social inventories of rebar shrank 6.5% on the week to come in at 5.51 million mt.
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