China's rebar inventories rise for 3rd consecutive week

Published: Jul 19, 2019 11:23
Pressure from high supplies could ease as higher iron ore prices cut margins at steel mills

SHANGHAI, Jul 19 (SMM) – China's inventories of rebar accumulated for the third consecutive week as of Thursday July 18 as poor consumption and greater deliveries to east China grew stocks.  

Higher steel prices in the eastern markets moved rebar products to the east. This, together with slower growth in consumption, expanded social inventories across eastern warehouses.  

Downstream purchases of rebar cooled for most of this week, after upbeat macroeconomic data bolstered trades on Monday. The average price of rebar fell 11.9 yuan/mt from a week ago and stood at 4,050.5 yuan/mt. 

Rebar mills outside the cutback-affected areas of Tangshan and Wu’an continued to operate at full capacity. 

However, SMM expects pressure from high supplies to ease in the short term as higher iron ore prices cut margins at steel mills and as more, potential environmental curbs.  

SMM data showed that overall inventories of rebar, including stocks across steelmakers and social warehouses, grew 3% on the week and posted 8.31 million mt as of Thursday July 18, after they grew 2.2% in the prior week. On a yearly basis, inventories stood 28.9% higher, expanding from a growth of 23.2% last week.

As of July 18, inventories across social warehouses stood at 5.93 million mt, up 2.8% on the week, accelerating from a buildup of 0.5% a week ago.

Inventories across steel plants advanced 3.4% on the week, to stand at 2.38 million mt, slowing from a 6.8% rise a week earlier.  

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
Sep 11, 2026 18:30
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
Read More
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
On September 9, 2026, Australia initiated its second sunset review of anti-dumping measures on galvanized steel sheet from India, Malaysia and Vietnam, and separately launched a sunset review of countervailing measures on imports from India. The review covers July 2025-June 2026, with the final report expected by February 11, 2027. As galvanized steel is the largest end-use sector for zinc, the measures directly affect export costs and competitiveness, potentially impacting Australia’s domestic zinc demand and supply chain. Maintaining the duties would provide some protection for domestic steel and coating capacity, while termination could increase low-priced imports and affect regional zinc consumption. The final outcome remains subject to the authorities’ determination.
Sep 11, 2026 18:30
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
Sep 7, 2026 15:43
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
Read More
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
The 300,000 mt/year copper cathode expansion project of JCC Hongyuan Copper, a subsidiary of Jiangxi Copper Corporation, entered the pre-approval public notice stage of its environmental impact assessment on September 4, with a total investment of approximately 1.416 billion yuan. The project is planned to start construction in September 2026 and be completed in December 2027. Upon completion, JCC Hongyuan's total capacity will jump from 250,000 mt to 550,000 mt.
Sep 7, 2026 15:43
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
Sep 3, 2026 19:00
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
Read More
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
[SMM Precious Metal Express] The Japanese yen spiked sharply during Wednesday's trading, with USD/JPY falling below 159 and closing down 0.92% at 158.69, sparking speculation of Japanese currency intervention. The dollar index also dropped sharply, with a weaker dollar environment providing support for precious metals.
Sep 3, 2026 19:00
China's rebar inventories rise for 3rd consecutive week - Shanghai Metals Market (SMM)