Decline of Social Inventory Accelerated and the Inventory will Continue to Fall This Week

SHANGHAI, Mar 21 (SMM) - Last week, total rebar inventory fell 3.5% on the week, with social inventory falling 3.0%, and in-plant inventory dropping 5.4%. The decline in the total inventory and in-plant inventory slowed down, while the decline in social inventory continued to accelerate. Downstream enterprises were active in purchasing amid rising prices at the beginning of last week, leading to the increasing direct delivery of steel mills and falling social inventory. Looking at the follow-up stage, the construction of infrastructure projects is underway, and the demand for rebar is likely to increase. As such, the rebar inventory will continue to fall this week.