Long steel social inventories in Guangzhou expand increase on week

SHANGHAI, Dec 13 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province extended their increase by 10.48%, for the week ended Thursday December 13 after they gained 2.37% a week ago, SMM data showed.

Stocks accumulated 56,200 mt, or 10.48%, from last Thursday to stand at 592,600 mt on December 13. Stocks of both rebar and wire rods expanded on the week. 

Rebar inventories in Guangzhou registered a buildup of 35,100 mt, or 12.4%, from a week ago to 318,300 mt, and wire rods stocks grew 21,100 mt, or 8.3%, to stand at 274,300 mt.