Long steel social inventories in Guangzhou fall for 3rd straight week

SHANGHAI, Apr 11 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, shrank 2.51% from a week ago to stand at 1.79 million mt as of Thursday April 11, down 3.57% from a year ago, SMM data showed.

Social inventories of long steel in Guangzhou have declined for three consecutive weeks.

Stocks of rebar lost 1.5% this week to 1.21 million mt, standing 0.25% lower than a year earlier.

Inventories of wire rods slid 4.5% to stand at 578,100 mt, down 9.85% year on year.