SHANGHAI, Dec 28 (SMM) – China's rebar inventories accumulated as construction sites slowed operation, for the week ended Thursday December 27. On a yearly basis, rebar stocks stood lower as downstream demand in the fourth quarter capped inventory growth.
Overall inventories, including social and in-plant stocks, rose to 5.05 million mt as of Thursday December 27, up 3.8% on the week but down 8.1% on the year, showed SMM data.
Both in-plant stocks and social inventories grew on a weekly basis.
Inventories across steel mills stood at 1.91 million mt as of December 27, up 3% from a week ago but down 13.1% from a year ago. Social stocks rose 4.4% on the week but dipped 4.7% on the year to stand at 3.14 million mt as of Thursday December 27.