Rebar Inventories Fell 6.2% on Week

SHANGHAI, Dec 23 (SMM) – Inventories of rebar across Chinese steelmakers and social warehouses stood at 4.92 million mt as of December 23, down 325,400 mt or 6.2% from a week earlier. Stocks are down 810,600 mt or 14.2% from a year earlier.

The rebar inventories at Chinese steelmakers decreased 130,700 mt or 7.1% from a week earlier to 1.71 million mt. And stocks are 764,200 mt or 31% lower than the same period last year, compared with a decline of 29.4% in the previous week.

Inventories at social warehouses declined 194,700 mt or 5.72% on the week and stood at 3.21 million mt, down 43,400 mt or 1.3% from a year ago.