SHANGHAI, Feb 24 (SMM) – The total inventory of rebar across social warehouses and steel makers in China stood at 12.24 million mt as of February 24, up 7.5% on the week, but down 5.10 million mt or 29.4% from the same period last lunar year.

The in-plant inventory stood at 3.26 million mt, up 18,500 mt or 0.6% on the week, but down 2.14 million mt or 39.6% on the year.

The inventory across social warehouses was 8.98 million mt, an increase of 840,400 mt or 10.33% on the week, but a drop of 1.60 million mt or 24.8% on the year.