This week, ferrous metals fluctuated at highs, with raw material ore and coking products outperforming steel. Against the backdrop of the escalating conflict in the Middle East, ore and coking products held up well, supported by higher shipping costs and transmission from coal and coke as energy substitutes. In the second half of the week, supply and demand data for hot-rolled coil and rebar were released. The increase in rebar inventory slowed markedly; however, hot-rolled coil demand was lower than the same period last year, and the pace of post-holiday recovery was relatively slow, leaving steel as a whole with limited upward momentum, while futures retreated after rapid rise. In the spot market, trading in the Chinese market was average this week.....

This week, total rebar inventory stood at 8.3525 million mt, up 57,800 mt WoW, or 0.7% (previously +3.46%). Compared with the same period of the lunar calendar last year, it increased by 281,200 mt, or 3.48% (previously +4.58%).

Total rebar inventory stood at 8.2948 million mt this week, up 277,000 mt WoW, or 3.46% (previous: +11.33%), and up 363,200 mt from the same period of the previous lunar year, or 4.58% (previous: +4.6%).

Weekly Survey of Rolling Lines in Central China: This Period Still Saw Concentrated Production Resumptions at EAF Steel Mills, and Central China Construction Steel Production Rose Steadily

This week, the total rebar inventory stood at 5.1467 million mt, a decrease of 19,900 mt WoW, down 0.39% MoM, and down 29.04% YoY on the lunar calendar. This week, the social rebar inventory was 3.3144 million mt, an increase of 28,600 mt WoW, up 0.87% MoM, and down 37.59% YoY on the lunar calendar. This week, the in-plant rebar inventory was 1.8323 million mt, a decrease of 48,500 mt WoW, down 2.58% MoM, and down 5.66% YoY on the lunar calendar. This week, the total wire rod inventory was 1.0834 million mt, an increase of 7,500 mt WoW, up 0.70% MoM, and down 40.06% YoY on the lunar calendar. This week, the social wire rod inventory was 547,500 mt, an increase of 20,700 mt WoW, up 3.92% MoM, and down 32.38% YoY on the lunar calendar. This week, the in-plant wire rod inventory was 535,900 mt, a decrease of 13,100 mt WoW, down 2.39% MoM, and down 46.29% YoY on the lunar calendar.

As of June 18, the total inventory of construction materials in Guiyang for the week was 68,000 mt, up 200 mt WoW, representing a WoW increase of 0.37%. Among them, the rebar inventory was 43,100 mt, unchanged WoW. The wire rod inventory was 24,900 mt, up 200 mt WoW.