[SMM Analysis] Construction Steel Inventory Drawdown Slows Notably

Published: May 7, 2026 11:08

Save

According to SMM statistics, steel mill inventory accumulated slightly, social inventory destocking decelerated, and total construction steel inventory stood at 8.4878 million mt, down 31,800 mt WoW (-0.37%), with the destocking slope flattening.

During this period, the supply side showed divergence between blast furnace and EAF production. On the blast furnace side, some steel mills completed maintenance on their construction steel rolling lines and resumed normal production. On the EAF side, some EAF steel mills sold steel billet externally, reducing construction steel production. With these offsetting factors, total construction steel production increased slightly. On the demand side, this period coincided with the Labour Day holiday, and construction site activity slowed down in some regions, with end-user procurement demand declining. According to SMM statistics, steel mill inventory accumulated slightly, social inventory destocking decelerated, and total construction steel inventory stood at 8.4878 million mt, down 31,800 mt WoW (-0.37%), with the destocking slope flattening.

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

15 hours ago

[SMM Steel] Hyundai-POSCO Louisiana Steel selects Danieli for low-carbon US steel project

[SMM Steel] Hyundai-POSCO Louisiana Steel LLC appointed Danieli to supply equipment for a new integrated steel plant in the US focused on low-carbon automotive steel production. The project includes a 2.5 million tpy ENERGIRON® DRI plant designed for hydrogen use and carbon capture, along with two electric arc furnaces capable of producing 2.88 million tpy. Danieli will also provide slab casters, secondary metallurgy systems, and reheating furnaces compatible with natural gas and hydrogen blends to support future decarbonization targets.

15 hours ago

16 hours ago

[SMM HRC Daily Trading] Spot Cargo Trading Pulled Back

[SMM HRC Daily Trading] On May 7, the combined daily trading volume of HRC from SMM's sample enterprises across four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 16,260 mt, down 1,000 mt DoD (-5.8%), up 65.75% YoY (solar calendar), and up 46.09% YoY (lunar calendar).

16 hours ago

MMi Daily Iron Ore Report (May 7)

On May 7, 2026, the iron ore market showed a volatile but strengthening trend with intense trading activity. The main contract I2609 finally closed at 817 yuan/ton, up 0.62% from the previous trading session.

16 hours ago