China's rebar inventory grows faster on the week

SHANGHAI, Jun 28 (SMM) – Social and in-plant inventories of rebar across China grew faster over the week ended Thursday June 28, compared with a week earlier. 

Social inventories stood at 4.83 million mt as of June 28, up 1.3% from a week ago and up 20% from a year ago. This marked the second weekly rise after 13 consecutive weeks of decline. 

Stocks across steel mills stood at 2.12 million mt as of June 28, up 4.4% from a week ago but down 17% from a year ago.

This brought overall inventories, including social and in-plant stocks, up to 6.95 million mt as of Thursday, up 2.2% week on week and up 5.7% year on year.