Steel inventories fell across five major product categories in the week to November 5, 2026, even as supply increased and construction steel consumption weakened, according to data published by Mysteel.

Weekly supply rose by 70,900 tonnes to 8.0489 million tonnes, while total inventories declined by 249,600 tonnes to 13.7982 million tonnes. Consumption was 8.2985 million tonnes, with construction steel consumption down 2.6% week on week.

Inventory draw continues as supply rises

Consumption exceeded supply by 249,600 tonnes during the week, matching the reported decline in total inventories. The drawdown therefore does not contradict the weaker construction steel consumption figure: total consumption across the five categories remained above supply despite that decline.

The figures point to a balance worth monitoring rather than a settled trend. If supply continues to rise while consumption weakens, the gap supporting inventory reductions could narrow. The next weekly supply, consumption and inventory readings will show whether the drawdown continues under those conditions.