On July 19, 2013, inventory data for major steel warehouses in the Shanghai region was released. The rebar stock stood at 307,400 tons, a decrease of 0.11 million tons compared to the previous week (July 12, 2013). Wire rod inventory dropped by 0.01 million tons to 93,600 tons, while disk screw stocks increased slightly by 0.05 million tons to 31,900 tons.
In addition, data from the Japan Network warehouses—including those in Songjiang—showed that total thread inventory was 358,600 tons, down by 0.111 million tons from the previous week. Wire rod levels fell by 0.01 million tons to 112,400 tons, and plate screw stocks rose by 0.07 million tons to 45,200 tons.
Shanghai's rebar inventory currently stands at 307,400 tons, reflecting a 0.36% drop from the previous week. Compared to the same period last year (July 20, 2012), rebar stocks decreased by 16,900 tons, or 11.67%. This decline is narrower than the previous week’s reduction.
Nationally, rebar inventory across major cities reached 6,780,400 tons, down by 252,400 tons from the prior week—a 3.59% decrease. Year-on-year, the inventory fell by 362,900 tons, or 5.08%, showing an accelerated decline compared to the same period last year.
Regionally, rebar inventories continued to fall this week. East China saw a reduction of 47,100 tons, Central China 29,200 tons, South China 10,700 tons, Southwest China 22,300 tons, North China 34,400 tons, Northwest China 46,000 tons, and Northeast China 62,200 tons.
Major cities experienced significant inventory declines. Dalian saw the largest drop of 44,000 tons, followed by Hangzhou (25,800 tons), Lanzhou (25,000 tons), Harbin (23,000 tons), and Wuhan (19,200 tons).
This week, domestic rebar stocks decreased by 362,900 tons overall. Regional breakdowns show East China lost 60,400 tons, Central China 640,000 tons, South China 115,400 tons, Southwest China 235,300 tons, Northwest China 158,800 tons, and Northeast China 251,600 tons.
Despite slower downstream demand, Shanghai rebar prices continued to rise this week, supported by low inventory levels. The price of HRB400 rebar with 20mm specifications reached 3,500 yuan/ton, up 60 yuan/ton from last Friday. Spiral steel prices also showed strong upward momentum, with the 1401 contract closing at 3,692 yuan/ton, a 0.98% increase.
Nationally, construction steel prices rose across most regions, with the average price of 20mm HRB400 rebar in 24 cities reaching 3,578 yuan/ton, up 58 yuan/ton from the previous week. Fuzhou and Lanzhou saw the largest price increases, rising by 140 yuan/ton each, followed by Guangzhou with a 100 yuan/ton gain.
Looking ahead, despite weak demand, low inventory levels are expected to continue supporting prices. Steel mills may raise prices further, potentially leading to another market rally. However, with ongoing weather disruptions affecting construction activity, the next week may see some price consolidation. Overall, the market remains tight, and supply-side constraints are likely to keep prices under support.
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