China's soaring rebar stocks reveal stronger steel output

摘要

Rebar inventories held by Chinese traders in eastern China's Hangzhou city, a key long steel market, have been accumulating at a much faster rate in early 2021 than in the same period of 2020, indicating China's long steel production in early 2021 has been a lot stronger. This could undermine market upward momentum in March if seasonal demand fails to resume to the levels seen in the fourth quarter of 2020.