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

Published: Jun 4, 2026 10:55

Save

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.

For any inquiries or to learn 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

2 hours ago

[SMM Analysis] Construction Steel Demand Pulled Back Seasonally This Period

According to SMM statistics, both mill inventory and social inventory destocked to varying degrees. Total construction steel inventory was 7.7978 million mt, down 50,100 mt WoW, or -0.64% WoW, with the destocking pace slowing down.

2 hours ago

19 hours ago

MMi Daily Iron Ore Report (June 3)

The DCE iron ore futures traded weak today. The most-traded contract I2609 closed at 780 yuan/mt, down 0.57% from the previous trading session. Port spot prices fell 3-5 yuan/mt from the previous day. Traders showed moderate enthusiasm in offering prices; steel mill purchases were mostly driven by rigid demand; overall spot market transactions remained thin as of now.

19 hours ago

6.3 SMM Global Steel Daily Report

SMM News Flash: [Billet] Today, export steel billet offers held steady. It was learned that regional offers showed slight divergence — northern offers were generally higher with steel mills showing weak willingness to sell, while east China offers were relatively lower but still above buyer expectations, resulting in mediocre transaction activity. [Indonesia] A steel mill in Indonesia offered HRC export prices at 515 USD/tonne FOB for July. Market rumors suggested that prices still faced further downward pressure, as most steel mills had not yet received sufficient orders for July.

19 hours ago