China Rebar Stocks Up 2.7% on Week

SHANGHAI, Mar 3 (SMM) – The total inventory of rebar across social warehouses and steel makers in China stood at 12.57 million mt as of March 3, up 333,200 mt or 2.7% on the week, but down 5.13 million mt or 29% from the same period last lunar year.

The in-plant inventory stood at 3.26 million mt, down 5,200 mt or 0.2% on the week, and down 2.25 million mt or 40.9% on the year.

The inventory across social warehouses was 9.31 million mt, an increase of 338,400 mt or 3.77% on the week, but a drop of 1.59 million mt or 23.6% on the year.