09/10/2026
📉 China’s steel market is back from the National Day holiday — but the rebound is still missing.
This week’s CUMIC Weekly recap:
• Apparent demand ▼ 1,027,800 t WoW
• Total inventories ▲ 855,000 t WoW
• Production ▲ 17,500 t WoW
• HRC inventories reached their highest level for the same period in recent years
Before the holiday, steel prices remained under pressure, with rebar outperforming HRC. While rebar inventories remain relatively low, HRC stocks have reached their highest level for the same period in recent years.
Falling coke and iron ore prices are also weakening cost support. With demand still under pressure, the market is expected to remain relatively weak in the short term.
👉 So — can post-holiday demand pick up fast enough to ease inventory pressure, or will high HRC stocks keep steel prices under pressure? Tell us your thoughts in the comments.