Steel Demand to Improve in Peak Season, Lower Inventory Peak

Published: Mar 10, 2023 11:48

Source: SMM

Save

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.

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.

Inventory Output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

[SMM Steel] Global crude steel production decreases in Feb y-o-y

[SMM Steel] According to World Steel Association (worldsteel) data released on March 25, 2026, global crude steel production in February totaled 141.8 million tons, a 2.2% decrease year-on-year. For the first two months of 2026, total global output reached approximately 298 million tons, down 1.5% compared to the same period last year.

4 hours ago

8 hours ago

MMi Daily Iron Ore Report (March 25)

Dalian iron ore futures trended weaker throughout the day. The most-traded I2605 contract concluded the session at 806.5 RMB per tonne, a decrease of 1.83% from the previous trading day. In the physical market,

8 hours ago

HRC Fundamentals: Maintenance Impact Down, Inventory Destocking Continues, Prices Expected to Fluctuate

Back to HRC fundamentals, impact from maintenance for hot-rolled products was 80,600 mt this week, down 234,300 mt WoW; impact from maintenance for hot-rolled products next week is expected at 9.34 mt, an increase of 12,800 mt from this week. Inventory-wise, destocking continued in Ningbo, Lecong, and Tangshan, while inventories in Shanghai and Zhangjiagang edged up slightly. Overall inventory was still expected to remain in a destocking trend. Attention should be paid to tomorrow's SMM weekly HRC balance. In the short term, HRC prices were still expected to fluctuate with costs, with limited momentum for further gains.

8 hours ago