Guangzhou long steel inventory up 25% on slow demand

Published: Feb 1, 2018 15:58

Save

Long steel inventory in Guangzhou, Guangdong province amounted to 1.23 million mt this week, up 243,500 mt, or 24.8%, from a week ago, SMM data showed.

SHANGHAI, Feb 1 (SMM) – Long steel inventory in Guangzhou, Guangdong province amounted to 1.23 million mt this week, up 243,500 mt, or 24.8%, from a week ago, SMM data showed.

Rebar inventory rose 158,000 mt to 797,900 mt while wire rod stocks grew 85,500 mt to 428,400 mt.

The increase was mainly due to slowing consumption and an inflow of materials from north China. We expect inventory in Guangzhou to continue to increase as port congestions have left many vessels still waiting to be discharged.

For editorial queries, please contact Daisy Tseng at daisy@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn

long steel rebar wire rod

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Sep 7, 2026 15:43

JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027

The 300,000 mt/year copper cathode expansion project of JCC Hongyuan Copper, a subsidiary of Jiangxi Copper Corporation, entered the pre-approval public notice stage of its environmental impact assessment on September 4, with a total investment of approximately 1.416 billion yuan. The project is planned to start construction in September 2026 and be completed in December 2027. Upon completion, JCC Hongyuan's total capacity will jump from 250,000 mt to 550,000 mt.

Sep 7, 2026 15:43

Sep 3, 2026 19:00

Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation

[SMM Precious Metal Express] The Japanese yen spiked sharply during Wednesday's trading, with USD/JPY falling below 159 and closing down 0.92% at 158.69, sparking speculation of Japanese currency intervention. The dollar index also dropped sharply, with a weaker dollar environment providing support for precious metals.

Sep 3, 2026 19:00

Aug 26, 2026 17:02

Wuhu Approves Environmental Impact Assessment for Anhui Motu's 500,000 kVAh Lead-Carbon Battery Project

[Lead-Acid Battery Enterprise Dynamics] Recently, the Wuhu Municipal Bureau of Ecology and Environment issued an approval opinion, and the environmental impact assessment for the annual production of 500,000 kVAh lead-carbon battery assembly project of Anhui Motu Technology Group Co., Ltd. was officially approved. The enterprise will implement various environmental protection measures in accordance with the requirements of the environmental impact assessment approval, advance subsequent preliminary work, and start the project construction after all conditions are ready.

Aug 26, 2026 17:02