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As of April 2nd, survey statistics on rebar production and inventory
According to Mysteel, for the week ending April 2, rebar production stopped falling and turned to increase. Factory inventory and social inventory have both declined for three consecutive weeks, while apparent demand has increased for six consecutive weeks.
Rebar production was 2.071 million tons, up 0.923 million tons from the previous week, an increase of 4.66%;
Rebar factory inventory was 2.0865 million tons, down 1.051 million tons from the previous week, a decline of 4.79%;
Rebar social inventory was 6.321 million tons, down 1.065 million tons from the previous week, a decline of 1.66%;
Rebar apparent demand was 2.2826 million tons, up 0.289 million tons from the previous week, an increase of 1.28%.