Rebar, wire rods social inventories in Guangzhou decline on week

SHANGHAI, Nov 29 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province decreased by 12,600 mt, or 2.37%, over the week ended November 29 to stand at 519,300 mt, SMM data showed.

Stocks of both rebar and wire rods registered declines for the same week. Social inventories of rebar in Guangzhou fell 12,400 mt, or 4.5% from last week, to 265,900 mt, and stocks of wire rods shrank 200 mt, or 0.1%, to 253,400 mt.