China's social, in-plant rebar inventories enter third week of decline

SHANGHAI, Jul 19 (SMM) – Social and in-plant inventories of rebar across China fell on the week ended Thursday July 19, marking three consecutive weeks of decline. 

Social inventories stood at 4.58 million mt as of July 19, down 0.9% from a week ago but up 10.9% from a year ago. Stocks across steel mills registered 1.86 million mt as of Thursday, down 3.3% from a week earlier and down 20.6% from last year.

This lowered overall inventories, including social and in-plant stocks, to 6.45 million mt as of Thursday, down 1.6% week on week and down 4% year on year, SMM data showed. The week-on-week drop was slower from a decline of 4% last Thursday.