SHANGHAI, May 31 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province shrank over 8.7% on the week and stood at 1.24 million mt as of Thursday May 31, SMM data showed.
This marked the 11th consecutive week of decline, and registered a decline faster than the 7.7% drop on Thursday May 24.
Rebar inventories fell 49,500 mt to 898,600 mt and stocks of wire rods dropped 68,600 mt to 336,400 mt.
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