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

Published: May 9, 2026 17:38

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[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.

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