Long steel inventory in Guangzhou dips slower on the week

SHANGHAI, Jul 19 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province shrank 73,600 mt from a week ago to stand at 726,300 mt as of Thursday July 19, SMM data showed.

This marked the fourth consecutive week of decline, but at a slower pace than last week's drop of 92,400 mt.  

Rebar inventories fell 78,200 mt on the week to 507,600 mt and stocks of wire rods rebounded 4,600 mt to 218,700 mt.