Steel Demand to Improve in Peak Season, Lower Inventory Peak

SHANGHAI, Mar 10 (SMM) – The average weekly rebar output in February 2023 stood at 2.57 million mt, up 8% on the month. And the average consumption stood at 1.84 million mt, 6% higher on the month. After the CNY holidays, the construction industry resumed their operations.

Steel consumption will have further room for growth in the peak season of March, but whether it can reach or exceed the peak level in 2022 remains to be seen.