Social inventories of long steel in Guangzhou gain 24% on week

SHANGHAI, Jan 31 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, gained 23.92%, or 242,800 mt from a week ago and stood at 1.26 million mt as of Thursday January 31, SMM data showed.

For the same week, rebar stocks in Guangzhou expanded 110,200 mt, or 18.4%, to stand at 709,900 mt, and wire rods stocks expanded 31.9%, to 547,800 mt.