Long steel inventory in Guangzhou extends gain

SHANGHAI, Aug 23 (SMM) – Social inventories of long steel in Guangzhou, Guangdong province rose 0.19%, or 1,300 mt, from a week ago to stand at 673,800 mt as of Thursday August 23, SMM data showed.

While rebar inventories shrank 10,000 mt or 2.5% on the week to 393,200 mt, stocks of wire rods jumped 11,300 mt or 4.2% to 280,600 mt.