China Rebar Stocks Shrank 470,400 mt on Week

SHANGHAI, Oct 14 (SMM) – The Inventories of rebar across Chinese steelmakers and social warehouses stood at 8.28 million mt as of October 14, down 470,400 mt or 5.4% from a week earlier. Stocks are down 2.33 million mt or 22.0% from a year earlier.

Inventories at Chinese steel makers decreased 25,100 mt or 1% from a week earlier to 2.39 million mt. Stocks are 894,700 mt or 27.3% lower than the same period last year.

Inventories at social warehouses declined 445,300 mt or 7.02% on the week and stood at 5.90 million mt, down 1.44 million mt or 19.6% from a year ago.