Long steel social inventories in Guangzhou extend gains

SHANGHAI, Mar 21 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, gained 0.46% from a week ago and stood at 1.96 million mt as of Thursday March 21, SMM data showed.

For the same week, rebar stocks across the region expanded 4,500 mt, or 0.4%, to stand at 1.27 million mt, and inventories of wire rods climbed 0.6%, or 4,400 mt, to stand at 693,100 mt.