China Rebar Stocks Down 8.3% on Week

SHANGHAI, Jul 28 (SMM) – The total inventory of rebar across social warehouses and steel makers in China stood at 8.32 million mt as of Thursday July 28, down 749,900 mt or 8.3% on the week, and down 26.7% from the same period last year.

The inventory across social warehouses was 5.75 million mt, a decrease of 370,600 mt or 6.06% on the week, and a drop of 29.3% on the year.

The in-plant inventory stood at 2.57 million mt, down 379,300 mt and 12.8% on the week, and down 20% on the year.