Long steel inventories in Guangzhou fall for nine consecutive weeks

SHANGHAI, May 17 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province fell over 5.6% on the week and stood at 1.47 million mt as of Thursday May 17, SMM data showed. 

Inventories shrank 87,600 mt from a week ago, and this marked the ninth consecutive week of decline. The drop occurred at a slower rate from 7.3% a week ago.

Rebar inventories shrank 62,400 mt to 994,700 mt and stocks of wire rod dropped 25,200 mt to 471,800 mt.

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