The national social inventory of steel has rebounded again, the decline rate of building material inventory has slightly accelerated, and the rate of increase in board inventory has sharply accelerated. According to the monitoring data of Lange Steel's cloud commerce platform, on October 9, 2020, the national steel social inventory index was 149.3 points, an increase of 0.70% compared to before the holiday. The decrease before the holiday turned into an increase, a decrease of 1.33% compared to the previous month, and an increase of 35.22% compared to the same period last year; The social inventory index of building materials was 209.8 points, a decrease of 3.06% compared to before the holiday, a slight acceleration of 0.44% compared to before the holiday, a decrease of 7.16% compared to the same period last year, and an increase of 53.88% compared to the same period last year; The social inventory index of sheet metal is 100.5 points, an increase of 7.73% compared to before the festival, a sharp acceleration of 7.25% compared to before the festival, a month on month increase of 10.33%, and a year-on-year increase of 12.31%.
National Steel Social Inventory Index on October 9, 2020

                         10月10日钢材价格汇总(元/吨）

At the same time, in terms of social inventory of various categories in key cities, the inventory of wire rods has shifted from decreasing to increasing, the inventory of building materials has decreased at an accelerated pace, and the inventory of sheet materials has increased significantly. Data shows that on October 9, 2020, the social inventory of steel in 29 key cities across the country was 13.7571 million tons, an increase of 96300 tons or 0.70 tons compared to before the holiday, and an increase from a decrease before the holiday to an increase; The social inventory of building materials in key cities nationwide is 8.6284 million tons, a decrease of 271900 tons or 3.06% compared to before the holiday, and a slight acceleration of 0.44 percentage points compared to before the holiday; The social inventory of sheet materials in key cities across the country is 5128700 tons, an increase of 368200 tons or 7.73% compared to before the holiday, and a sharp acceleration of 7.25% compared to before the holiday.
To sum up, the demand for the "Silver Ten" opening of the steel market is awesome, and the rise of the subdivided varieties is more. At the same time, due to the continuous rise of steel billets, steel prices have rebounded. However, due to the increase in steel yard arrivals during the "11th" period and the rebound in social inventory, most businesses still focus on reducing inventory. Therefore, it is expected that the rebound trend of the steel market will continue in the short term.
----Relevant industry analysis reports refer to the "2020 China Steel Market Research Report - Industry Supply and Demand Status and Future Prospects Research"
----Source: China Report Network