Decline In In-Plant and Social Inventory Both Slowed Down

SHANGHAI, Mar 28 (SMM) - Total rebar inventory fell 2.2% on the week, with social inventory falling 2.6%, and in-plant inventory dropping 0.5%. The decline in in-plant and social inventory both slowed down. The rebar output of steel mills decreased last week, and thus the in-plant inventory continued to decline but at a slower pace. In terms of social inventory, owing to the falling prices, downstream enterprises purchased as needed and speculative demand weakened slightly, hence the decline in social inventory slowed down. In the follow-up stage, it is expected that the social inventory will decline this week, but the decline will continue to narrow.