Distributors Keeping Their Stocks Thin

While the traditional peak season for steel hoarding is looming, distributors in China appear not to be comfortable with too much inventory on hand. The reason behind their hesitance rests on their judgment of a still feeble foundation in the domestic steel market.

Panchenggang and Hebei Steel have announced plans to raise their rebar truncation prices for November deliveries. Supplies to the Wuan region of Hebei become tight due to domestic production cuts amid the unfolding of the power rationing policy.