Some Markets Closed during Holiday, Construction Steel Social Inventory Destocking Slowed Down

Published: May 9, 2026 17:38

Save

[SMM Construction Steel Large-Sample Social Inventory]

Construction steel social inventory: According to SMM survey, destocking of total construction steel social inventory slowed down this week. As of May 7, 2026, SMM construction steel social inventory stood at 5.8353 million mt, down 80,720 mt WoW, a decline of 1.36%, with destocking pace notably slowing down WoW. This survey period covered the Labour Day holiday, during which some markets were closed, leading to some inventory buildup; however, futures surged significantly after the holiday, boosting market sentiment and increasing market participants' willingness to purchase, with overall inventory continuing to destock.

Regional social inventory: By region, the central China region saw relatively fast inventory buildup this period, mainly because steel mill inventory in some areas was accelerated to transfer to social inventory before the holiday, while markets were closed during the holiday, causing inventory to shift from decline to increase; in east China and north-east China, some steel mills within the regions underwent maintenance, with limited market arrivals and inventory edging down; in north-west China, arrivals of external resources decreased, with overall inventory continuing rapid destocking; inventory in other regions changed largely normally.

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 for 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

Aug 7, 2026 18:45

[SMM Steel Import and Export Analysis] Export Order Taking Improved in July, Will Steel Exports Rebound in August?

Aug 7, 2026 18:45

Aug 7, 2026 18:13

8.7 SMM Global Steel Daily Report

On August 7 China's steel export prices were mostly steady with flat products extending gains. Some flat-product export prices rose 1 USD/tonne day on day, with HRC transactions at 482-485 USD/tonne; Chinese futures rose for successive sessions in the second half of the week and export FOB prices followed, but traders reported limited actual business after the increase, while at the mill end some traders were buying against earlier orders. Billet export FOB prices were steady, with Jiangyin port offers at 450-455 USD/tonne; offers are largely referenced to the rebar futures basis, overseas enquiries are limited and competition is fierce, with only some exporters covering earlier short billet positions. Rebar export offers at Tianjin port were steady with transactions at 474-480 USD/tonne, as overseas enquiries were unremarkable, wait-and-see sentiment prevailed and domestic traders found exporting difficult.

Aug 7, 2026 18:13

Aug 7, 2026 18:10

MMi Daily Iron Ore Report (August 7)

Today, the DCE iron ore futures moved steadily today. The most-traded DCE I2609 contract closed at 716.5 yuan/mt, up 0.35% from the previous session. Spot prices at Qingdao Port averaged a decline of about 0–2 yuan/mt from the previous trading day.

Aug 7, 2026 18:10