China Rebar Stocks Up 3.74 Million mt from Pre-Holiday Level

SHANGHAI, Feb 10 (SMM) – The Inventories of rebar across Chinese steelmakers and social warehouses stood at 10.43 million mt as of February 10, up 3.74 million mt or 55.9% from pre-CNY holiday level. Stocks are down 3.59 million mt or 25.6% from a year earlier.

In-plant inventories at Chinese steel makers rose 1.3 million mt or 68.6% from pre-holiday level to 3.19million mt. Stocks are 1.98 million mt or 38.3% lower than the same period last year.

Inventories at social warehouses rose 2.44 million mt or 50.87% from pre-holiday level and stood at 7.24 million mt, down 1.62 million mt or 18.2% from a year ago.