China Rebar Stocks Down 7.9% on Week

SHANGHAI, Aug 4 (SMM) – The total inventory of rebar across social warehouses and steel makers in China stood at 7.66 million mt as of Thursday August 4, down 658,400 mt or 7.9% on the week, and down 33.5% from the same period last year.

The inventory across social warehouses was 5.39 million mt, a decrease of 355,700 mt or 6.19% on the week, and a drop of 33% on the year.

The in-plant inventory stood at 2.77 million mt, down 302,800 mt and 11.8% on the week, and down 34.6% on the year.