SHANGHAI, Aug. 24 (SMM) – Inventories of construction steel inventories dropped for 5 weeks in a row in major warehouses in Guangdong, according to SMM data.
Total inventories were 510,700 tonnes, down 23,300 tonnes or 4.4 per cent on a weekly basis.
Rebar inventories were 387,900 tonnes, up 9,500 tonnes or 2.5 per cent on a weekly basis, and this was the first growth after falling for one month. Wire rod inventories fell 32,800 tonnes or 21.1 per cent to 122,800 tonnes.
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