Long steel social inventories in Guangzhou dip 3.49% on week

SHANGHAI, Apr 4 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, declined 3.49% from a week ago to stand at 1.83 million mt as of Thursday April 4, SMM data showed.

This followed a decline of 3% on a weekly basis, to 1.9 million mt as of Thursday March 28.

For the week ended April 4, stocks of rebar lost 3.8% on the week to 1.23 million mt, standing 3.86% lower from a year earlier.

For the same week, inventories of wire rods in Guangzhou slid 2.8% to stand at 605,100 mt, down 9.06% year on year.