SHANGHAI, Sep 7 (SMM) – China’s social and in-plant inventories of rebar shrank again on the week that ended Thursday September 6, SMM data showed. Last Thursday, overall stocks rebounded 2.7% on the week, after eight consecutive weeks of decline.
Maintenance and environmental curbs lowered supplies and stocks. Smaller inventories also reflected relatively firm downstream consumption across China on the week.
Social inventories stood at 4.4 million mt as of September 6, down 1.7% from a week ago and down 7.4% from a year ago. Stocks across steel mills registered 1.81 million mt as of Thursday, down 0.7% from last week and down 20.7% from a year earlier.
Overall inventories, including social and in-plant stocks, decreased to 6.21 million mt as of Thursday, down 1.4% on the week and down 11.7% on the year.
