Decline of Social Inventory Of Rebar Slowed Down As Terminals Purchased As Needed

SHANGHAI, Apr 4 (SMM) - Last week, the total rebar inventory fell 2.5% on the week, with social inventory falling 2.2%, and in-plant inventory dropping 3.8%. The decline rate of total inventory and in-plant inventory accelerated while that of social inventory slowed down. The rebar futures prices fluctuated upward. But the spot prices hovered sideways. Agents and traders were unwilling to pick up goods. Therefore, the market supply decreased. Meanwhile, downstream enterprises purchased goods on demand, and thus the social inventory decreased. In the follow-up stage, the pressure on rebar production will be relatively small in the short term as the demand may increase in stages. It is expected that the total rebar inventory will continue to decline this week.