SHANGHAI, Jul 26 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province shrank 40,500 mt from a week ago to stand at 685,800 mt as of Thursday July 26, SMM data showed.

This marked the fifth consecutive week of decline, but at a slower pace than last week's drop of 73,600 mt.

Rebar inventories fell 51,400 mt on the week to 456,200 mt and stocks of wire rods rebounded 10,900 mt to 229,600 mt.