SHANGHAI, Dec 9 (SMM) – The inventory of rebar across Chinese steelmakers and social warehouses stood at 5.62 million mt as of December 9, down 532,000 mt or 8.6% from a week earlier. Stocks are down 569,600 mt or 9.2% from a year earlier.

The inventory at Chinese steel makers decreased 277,800 mt or 12.4% from a week earlier to 1.97 million mt. Stocks are 661,800 mt or 25.1% lower than the same period last year.

The inventory at social warehouses declined 254,200 mt or 6.51% on the week and stood at 3.65 million mt, but up 92,200 mt or 2.6% from a year ago.