[SMM Construction Steel Weekly Balance] Demand Growth Was Limited This Week, Total Inventory Continued to Decline Slowly

Published: Apr 2, 2026 11:13

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Demand Growth Was Limited This Week, Total Inventory Continued to Decline Slowly

On the supply side, steel mills mostly maintained their existing production pace this week; on the demand side, rainy weather affected the pace of construction at outdoor job sites, and terminal procurement was mainly driven by rigid demand at low prices, with demand growth slowing. According to SMM statistics, both mill inventory and social inventory declined to varying degrees. Total construction steel inventory stood at 9.881 million mt, down 288,500 mt WoW, or 2.81% WoW, extending the trend of slow destocking.

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