Chinese rebar inventory sees first increase in several months

During the week ending June 10, the Chinese rebar market observed an end to the destocking activity which had lasted for 14 weeks, finally recording an increase in inventory levels. At the same time, the long-standing destocking activities in the wire rod, hot rolled, cold rolled and medium plate markets in China have likewise come to an end.
 
On June 10, the overall inventory of rebar, wire rod, hot rolled, cold rolled and medium plate in main Chinese cities came to 14.43 million mt, increasing by 10,000 mt compared to the week before.
 
The Chinese rebar market had been characterized by destocking activity since early March this year. Some traders say that the end of the destocking process may be an indication of the approach of the slow season.