Rebar inventory reduction may slow down this week

As of November 23, total domestic rebar inventory kept dipping, with a drop by 105,200 mt last week. Looking at the future, there will be still expectations for favourable macro policies. Profits slip in finished products amid rising costs will leave rebar supply with limited room to further hike, while demand will soften in a slack season. Therefore, rebar inventory reduction may slow down this week.