SHANGHAI, Jul 5 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province shrank 114,800 mt from a week ago to stand at 892,300 mt as of Thursday July 5, SMM data showed.

This marked the second consecutive week of decline, which was bigger from previous week's drop of 81,800 mt. 

Rebar inventories fell 102,900 mt on the week to 640,600 mt and stocks of wire rods dropped 11,900 mt to 251,700 mt.