Rebar social inventory rebounds after 13 weeks of decline

SHANGHAI, Jun 21 (SMM) – Social and in-plant inventories of rebar across China rebounded over the week ended Thursday June 21, 18 weeks after Chinese New Year, SMM data showed.

Social inventories stood at 4.77 million mt as of June 21, up 0.46% from a week ago and 16.42% from a year ago. The week-on-week rise is the first increase after 13 consecutive weeks of decline. 

Stocks across steel mills stood at 2.03 million mt as of June 21, up 3.79% from a week ago but down 13.71% from a year ago.

This brought overall inventories, including social and in-plant stocks, up to 6.8 million mt as of Thursday, up 1.43% week on week and 5.44% year on year.