As of October 26, the total inventory of domestic building steel has b

Published: Oct 29, 2023 11:02

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As of October 26, the total inventory of domestic building steel has been reduced for three consecutive weeks. This week, the inventory of threaded steel decreased by 320,600 tons compared with last week, of which the social inventory decreased by 280,600 tons, a decrease of 6.79%. On the supply side, according to SMM research, some long-process steel mills resumed production according to plan this week, and some iron return to building materials, the impact of building materials maintenance was 1.0368 million tons, a decrease of 17,500 tons compared with last week; the predicament of electric furnace steel mills was slightly relieved, the opening rate increased by 0.88% compared with last week, and the overall supply of building materials increased slightly. On the demand side, driven by macro-positive news this week, steel prices rose rapidly, driving the release of terminal demand in stages, but the current market confidence still needs time to repair, and the demand this week was slightly lower than last week, so this week's inventory decreased by 5.35%, but the year-on-year decrease was slightly slowed down.

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