Rebar social inventory dips slower on the week

SHANGHAI, Jun 7 (SMM) – China's social inventories of rebar shrank 3.9% on the week and came in at 4.95 million mt as of Thursday June 7. The decline this week is slower than the decline of 6.4% registered on May 31.

Rebar inventories across mills in China dipped nearly 2.3% from last week to stand at 2.09 million mt as of June 7, SMM data showed. 

Overall rebar inventories, including social inventories and inventories at mills, registered at 7.04 million mt as of June 7, 16 weeks after Chinese New Year. This was lower by some 3.4% from last week and up 3.8% from the same period last year. 

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