Rebar social inventories in Guangzhou gain 10% on week

SHANGHAI, Jan 24 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, gained 11.3%, or 103,100 mt over the week ended Thursday January 24 and stood at 1.01 million mt, SMM data showed.

For the same week, rebar stocks in Guangzhou expanded 55,900 mt, or 10.3%, to stand at 599,700 mt, and wire rods stocks grew 47,200 mt, or 12.8%, to 415,200 mt.

Long steel inventories in Guangzhou rose by 8.3%, or 69,800 mt for the week ended Thursday January 17.