China Rebar Stocks up 47.3% from before CNY Holiday

SHANGHAI, Feb 2 (SMM) – The total inventory of rebar across social warehouses and steel makers in China stood at 10.56 million mt as of Thursday February 2, up 3.39 million mt or 47.3% from before Chinese New Year (CNY) holiday, and up 7.1% from the same period last year.

The inventory across social warehouses was 7.18 million mt, up 2.08 million mt or 40.76% on the week, and a lost of 0.8% on the year.

The in-plant inventory stood at 3.38 million mt, up 1.32 million mt or 63.9% on the week, and up 6.1% on the year.