China steel rebar inventory draw slowed on week on greater supply

Published: Apr 24, 2020 11:03
Inventories of steel rebar across Chinese steelmakers and social warehouses extended their downward trend in the week ended April 23, but the weekly decline slowed from a week ago, the first time since the slide began in mid-March, due to a rise in supply and smaller shipments from steel plants.

SHANGHAI, Apr 24 (SMM) – Inventories of steel rebar across Chinese steelmakers and social warehouses extended their downward trend in the week ended April 23, but the weekly decline slowed from a week ago, the first time since the slide began in mid-March, due to a rise in supply and smaller shipments from steel plants. 


On a yearly basis, overall stocks remained significantly higher, but the growth slowed down for the second consecutive week as of April 23. 


Rebar shipments from steel mills were at a slower pace this week, with most traders at break-even and cautious about drastically restocking. Steelmakers continued to increase supplies, and this adds to uncertainties about a sustained decline in the in-plants stocks at the current rate. 


Inventories at social warehouses accelerated their drops as construction demand remained brisk. The year-on-year buildup in social stocks narrowed this week, the first time since the Chinese New Year holiday, after the previous five consecutive weeks of drops in the social inventories. 


Anticipated stepped-up purchases from construction sector before the holiday of Labours Day will extend the inventory draw next week.


The upsides of spot rebar prices, however, will be capped as overall stocks remain elevated from a year earlier. 


SMM data showed that overall inventories of rebar, including stocks across steelmakers and social warehouses, stood at 15.04 million mt as of April 23, 76% higher year on year, following a buildup of 80.1% last week.


Rebar inventories at Chinese steelmakers stood at 4.54 million mt as of April 23. This was down 6.2% from April 16, slowing from a decline of 10.2% last week. 


Inventories across social warehouses shrank 6.8% on the week and stood at 10.5 million mt, after dipping 6.4% in the previous week.

 

 

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
Hunan Launches Second Round of Environmental Inspections, Affecting Lead-Zinc Mines
Jun 30, 2026 14:20
Hunan Launches Second Round of Environmental Inspections, Affecting Lead-Zinc Mines
Read More
Hunan Launches Second Round of Environmental Inspections, Affecting Lead-Zinc Mines
Hunan Launches Second Round of Environmental Inspections, Affecting Lead-Zinc Mines
Hunan Province has launched the second round of its provincial ecological and environmental protection inspection "look-back" campaign. The first batch of seven inspection teams has been fully deployed since June 13, 2026, covering the cities of Changsha, Zhuzhou, Yueyang, Shaoyang, Hengyang, Huaihua, and Zhangjiajie. According to market sources, some lead-zinc mines have suspended production as a result of the inspections. SMM will continue to monitor and assess the potential impact on zinc concentrate supply.
Jun 30, 2026 14:20
Australia Terminates Anti-Dumping Probe on South Korean, Vietnamese Galvanised Steel Sheets
Jun 23, 2026 16:31
Australia Terminates Anti-Dumping Probe on South Korean, Vietnamese Galvanised Steel Sheets
Read More
Australia Terminates Anti-Dumping Probe on South Korean, Vietnamese Galvanised Steel Sheets
Australia Terminates Anti-Dumping Probe on South Korean, Vietnamese Galvanised Steel Sheets
On June 19, 2026, the Australian Anti-Dumping Commission issued Notice No. 2026/088, terminating the anti-dumping investigation on galvanised sheet [Zinc Coated (Galvanised) Steel] imported from South Korea and Vietnam, following the withdrawal application submitted by the applicant BlueScope Steel Limited. Previously, on May 22, 2026, the Commission issued Notice No. 2026/071, initiating an anti-dumping investigation on galvanised sheet imported from South Korea and Vietnam, in response to an application filed by Australian domestic enterprise BlueScope Steel Limited.
Jun 23, 2026 16:31
Supply Gap Persists in Vietnamese Market, Spot Lead Traded at High Premiums
Jun 5, 2026 11:08
Supply Gap Persists in Vietnamese Market, Spot Lead Traded at High Premiums
Read More
Supply Gap Persists in Vietnamese Market, Spot Lead Traded at High Premiums
Supply Gap Persists in Vietnamese Market, Spot Lead Traded at High Premiums
[Ex-China Lead Market Dynamics] It was learned that the recent environmental protection inspections on secondary lead in the Vietnamese market had temporarily come to an end, and some lead smelters had gradually resumed production. However, in the face of the current primary lead supply gap, spot lead in the local market continued to maintain high premiums. According to the latest information, the CIF premium for Vietnamese lead ingots with Pb≥99.99% in June had reached $180/mt as a common transaction price, compared to around $165/mt in May.
Jun 5, 2026 11:08
China steel rebar inventory draw slowed on week on greater supply - Shanghai Metals Market (SMM)