Long steel inventories in Guangzhou fall on week

SHANGHAI, Oct 18 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province decreased 9.31%, or 71,900 mt, from Thursday October 11 to 700,400 mt as of Thursday October 18, SMM data showed.

For the same period, stocks of wire rods fell 54,100 mt, or 15.5%, to 294,600 mt; stocks of rebar shrank 17,800 mt, or 4.2%, to 405,800 mt.