Steel Inventory Takes a Hit: Rebar and Wire Rod Stocks Decline

The latest statistics from the Shanghai Metals Market reveal a decline in steel inventory across various categories. Rebar inventory, a key component in construction, experienced a substantial drop of 526,100 metric tons week-on-week, representing an 8.68% month-on-month decrease and a significant 20.79% year-on-year decline. This downward trend is reflected in both social and in-plant rebar inventories. Similarly, wire rod inventory also experienced a downturn, declining by 19.02 metric tons week-on-week, with a 12.24% month-on-month and 13.31% year-on-year reduction. The overall decline in steel inventory signals a potential shift in market dynamics, warranting close attention from industry stakeholders.