[Weak Demand Performance, Construction Material Social Inventory Destocking Slowed Down Again]

Published: Jun 4, 2026 10:55

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Construction material social inventory: According to SMM survey, the destocking pace of total construction material social inventory slowed down notably this period. As of June 4, 2026, SMM construction material social inventory stood at 5.3129 million mt, destocking by 40,500 mt WoW, down 0.76%, with the destocking pace slowing down again WoW. This was mainly because most regions were affected by rainy weather during the survey period, leading to weak market demand. Additionally, some regions were affected by construction controls related to the zhongkao and gaokao exams, slowing down construction progress at job sites, which led to a notable slowdown in social inventory destocking this week.
Regional social inventory: By region, inventory performance across regions showed slight divergence this period. In South China, demand was relatively weak, with shipment performance diverging among product categories in some areas — rebar shipments were sluggish, causing local inventory to shift from decline to accumulation. In Northeast and North China, purchase willingness declined in some areas due to weather factors such as sandstorms and rain, and inventory destocking slowed down notably. Some areas in Central and North China reported that during the zhongkao and gaokao exam period, construction sites implemented noise controls, slightly slowing construction progress, resulting in weak construction material inventory destocking and slight inventory accumulation this period. Other regions generally continued modest destocking.

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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