Rebar social inventories in Guangzhou up nearly 14% on week

SHANGHAI, Jan 3 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, extended gains by 17.3%, or 115,000 mt over the week ended Thursday January 3 and stood at 779,600 mt, SMM data showed.

For the same week, rebar stocks in Guangzhou expanded 54,200 mt, or 13.9%, to stand at 444,400 mt, and wire rods stocks grew 60,800 mt, or 22.2%, to 335,200 mt.