China's social, in-plant rebar inventories fall slower on the week

SHANGHAI, Jul 26 (SMM) – Social and in-plant inventories of rebar across China continued to fall on the week ended Thursday July 26, but at a slower rate, SMM data showed. 

Overall inventories, including social and in-plant stocks, shrank to 6.36 million mt as of Thursday, down 1.4% on the week and down 5.3% on the year. This marked the fourth consecutive week-on-week drop, slower from a decline of 1.6% last Thursday.

Social inventories stood at 4.55 million mt as of July 26, down 0.7% from a week ago but up 5.6% from a year ago. Stocks across steel mills registered at 1.81 million mt as of Thursday, down 3% from a week earlier and down 26.2% from last year.