Long steel social inventories in Guangzhou rebound on week

SHANGHAI, Mar 14 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, gained 1.86% from a week ago and stood at 1.95 million mt as of Thursday March 14, SMM data showed.

This followed a decline of 0.24%, or 4,700 mt on a weekly basis, to 1.91 million mt as of Thursday March 7.

For the week ended March 14, rebar stocks in Guangzhou expanded 27,700 mt, or 2.2%, to stand at 1.26 million mt, and wire rods stocks climbed 1.2%, or 8,000 mt, to stand at 688,700 mt.