China Rebar Stocks Down 5.5% on Week

SHANGHAI, Aug 11 (SMM) – The total inventory of rebar across social warehouses and steel makers in China stood at 7.24 million mt as of Thursday August 11, down 419,500 mt or 5.5% on the week, and down 36.9% from the same period last year.

The inventory across social warehouses was 5.08 million mt, a decrease of 310,500 mt or 5.76% on the week, and a drop of 36.2% on the year.

The in-plant inventory stood at 2.16 million mt, down 109,000 mt and 4.8% on the week, and down 38.4% on the year.