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.
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