Social, in-plant inventories of rebar extend decline

SHANGHAI, Jun 14 (SMM) – Social and in-plant inventories of rebar across China extended their declines over the week ended Thursday June 14, 17 weeks after Chinese New Year, SMM data showed.

Social inventories stood at 4.75 million mt as of June 14, down 4.03% from a week ago but up 15.18% from a year ago. Stocks at steel mills stood at 1.95 million mt as of June 14, down 6.46% from a week ago and down 14.64% from a year ago.

This brought overall inventory, including social and in-plant stocks, up to 6.71 million mt as of June 14, down 4.75% week on week but up 4.54% year on year.