China's rebar inventory drops after two weeks of increase

SHANGHAI, Jul 5 (SMM) – Both social and in-plant inventories of rebar across China fell on the week ended Thursday July 5, following two straight weeks of increase. 

Social inventories stood at 4.76 million mt as of July 5, down 1.6% from a week ago but up 18.1% from a year ago. Stocks across steel mills registered 2.07 million mt as of July 5, down 2.3% from a week earlier and down 19.1% from last year.

This brought overall inventories, including social and in-plant stocks, lower to 6.83 million mt as of Thursday, down 1.8% week on week but up 3.7% year on year, SMM data showed.