Social inventories of long steel (including wire rods and rebar) in Guangzhou posted slower declines this week, decreasing 6.83%, or 120,200 mt, from a week ago to 1.64 million mt as of Wednesday May 20, smaller than a drop of 9.53% in the previous week, showed SMM data.

Social inventories of long steel (including wire rods and rebar) in Guangzhou continued to trend lower in the week ended April 22, falling 3.18% to 2.13 million mt, 37.69% higher than the same period after the Lunar New Year holiday last year, showed SMM data.

Stocks of copper across Shanghai bonded area declined for the second consecutive week as of April 3, falling 5,200 mt from a week ago to 333,800 mt, showed SMM data.

Inventories of zinc ingot across Shanghai-bonded areas stood at 75,400 mt as of Friday April 3, unchanged from a week ago, showed SMM data.

Social inventories of copper cathode in south China’s Guangdong province continued to trend downsides, falling for the fourth consecutive week as of Friday April 3. 

Inventories of aluminium billet in China fell for the fourth consecutive week as of April 2, due to greater deliveries and reduced arrivals.  

Social inventories of long steel (including wire rods and rebar) in Guangzhou continued to trend lower in the week ended April 1, falling 2.1% to 2.25 million mt, 26.01% higher than the same period after the Lunar New Year holiday last year.

However, the turning point in the trend of overall rebar inventories will unlikely point to reduced supply pressure or a rally in spot rebar prices in the near term, as the stocks remain considerably higher on the year and optimistic outlook for infrastructure construction has seen some demand frontloading. 

Inventories of seaborne iron ore across 35 Chinese ports totalled 111.68 million mt as of February 28, down 1.56 million mt from a week ago and 21.12 million mt lower than a year ago, showed SMM data.

Increases in China’s inventories of construction steel rebar continued to slow this week, especially for the stocks at steelmakers, as demand recovered gradually and production remained capped by...