SHANGHAI, Jul 12 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province shrank 92,400 mt from a week ago to stand at 799,900 mt as of Thursday July 12, SMM data showed.

This marked the third consecutive week of decline, although at a slower pace than last week's drop of 114,800 mt. 

Rebar inventories fell 54,800 mt on the week to 585,800 mt and stocks of wire rods dropped 37,600 mt to 214,100 mt.