Long steel social inventories in Guangzhou rebound on week

SHANGHAI, Dec 6 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province started to rebound after they shrank 12,600 mt, or 2.37%, a week ago, SMM data showed. 

Stocks accumulated 17,100 mt, or 3.29%, over the week ended December 6 to stand at 536,400 mt. A rise of 17,300 mt, or 6.5%, in rebar inventories accounted for the overall increase. 

Stocks of wire rods in Guangzhou continued to fall, by 200 mt, or 0.1%, to 253,200 mt on the week.