SHANGHAI, Sep 30 (SMM) – Inventories of rebar across Chinese steel makers and social warehouses stood at 8.70 million mt as of September 30, down 1.06 million mt or 10.9% from a week earlier. Stocks are down 1.85 mt or 17.6% from a year earlier.

Inventories at social warehouses declined 699,900 mt or 10.03% on the week and stood at 6.28 million mt, down 1.09 million mt or 14.8% from a year ago.

Inventories at Chinese steel makers decreased 363,800 mt or 13.1% from a week earlier to 2.42 million mt. Stocks are 762,200 mt or 24.0% lower than the same period last year.