[SMM Analysis] The supply-demand imbalance for building materials eased slightly this period.

Published: Jul 9, 2026 11:02

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According to SMM statistics, both mill and social inventories experienced inventory buildup to varying degrees. Total building material inventory stood at 8.3218 million mt, up 88,900 mt MoM, or +1.08% MoM, with the inventory buildup pace slowing somewhat.

Supply side, profit per mt of building materials continued to be squeezed. Blast furnace steel mills conducted production cuts and maintenance on building material rolling lines, while EAF steel mills reduced operating hours or shut down, leading to an expanded decline in nationwide building material production. Demand side, affected by typhoons, flooding, and frequent rainfall in south China, construction pace at outdoor sites slowed or halted. Market confidence was notably weak, trading atmosphere remained sluggish, and end-user procurement mainly consisted of rigid demand-driven purchases at low prices. According to SMM statistics, both mill and social inventories experienced inventory buildup to varying degrees. Total building material inventory stood at 8.3218 million mt, up 88,900 mt MoM, or +1.08% MoM, with the inventory buildup pace slowing somewhat.

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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