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China steel rebar inventories fell for two weeks, but remained higher on year
Mar 27,2020 10:37CST
data analysis
Source:SMM
Inventories of steel rebar across Chinese steelmakers and social warehouses fell for the second consecutive week as of March 26 on the back of improved downstream purchases. However, the overall inventories remained significantly higher than the same period after the Chinese New Year holiday last year, which threatens some downside risk in spot rebar prices. SMM expects the overall inventories to return to levels of the previous year only around mid-May.
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