Guangzhou long steel inventories dip for 4 weeks

SHANGHAI, Nov 1 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province decreased 9.27%, or 57,600 mt, from Thursday October 25 to 563,700 mt as of Thursday November 1, SMM data showed.  

This marked the fourth consecutive week of decline. For the same period, stocks of wire rods fell 32,700 mt, or 12.7%, to 224,800 mt; and stocks of rebar shrank 24,900 mt, or 6.8%, to 338,900 mt.