Construction steel inventory continues to accumulate

Last week, construction steel inventory continued to accumulate, with total inventory at 7.2925 million mt, up 60,500 mt WoW, including a 55,300 mt increase in factory inventory and a 5,200 mt increase in social inventory. Looking ahead, on the supply side, according to the SMM survey, the average daily scheduled production of rebar in June is 323,100 mt, close to May's output. On the demand side, temperatures are gradually rising in various regions, and the off-season impact is becoming apparent. It is expected that inventory may continue to accumulate slightly this week.