SHANGHAI, Jun 28 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province shrank 81,800 mt from a week ago to stand at 1.01 million mt as of Thursday June 28, SMM data showed.
The inventory returned to a downward trend after a 3.5% rebound last week that followed 13 consecutive weeks of declines.
Rebar inventories fell 49,900 mt on the week to 743,500 mt and stocks of wire rods dropped 31,900 to 263,600 mt.
