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China's wire rod inventory rebounds as rebar stocks fall

iconAug 9, 2018 15:14
Source:SMM
While rebar inventory across China continued to fall on the week, overall wire rod stocks rebounded, SMM data showed

SHANGHAI, Aug 9 (SMM) – While rebar inventory across China continued to fall during the week ended Thursday August 9, overall wire rod stocks rebounded, SMM data showed. 

Social inventories of wire rod stood at 1.24 million mt as of August 9, up 3.4% from a week ago and up 13% from a year ago. Stocks across steel mills registered at 452,200 mt, up 2.6% from a week earlier but down 5% from last year.

This brought overall inventories, including social and in-plant stocks, higher to 1.69 million mt as of Thursday, up 3.2% week on week and up 5.4% year on year. The rebound came after a week-on-week decline of 0.6% on August 2, SMM data showed.

In terms of rebar, overall inventory shrank 0.4% on the week to stand at 6.3 million mt. This marked the sixth consecutive week of decrease, but at a slower pace compared with a decline of 0.5% registered on August 2.

 

Inventory data
Rebar
Wire rod

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