Long steel social inventories in Guangzhou fall for 5th week

SHANGHAI, Apr 25 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, shrank 2.72% from a week ago to stand at 1.62 million mt as of Thursday April 25, down 3.2% from a year ago, SMM data showed.

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

Stocks of wire rods lost 2.72% this week to 463,300 mt, standing 17% lower than a year earlier.

Inventories of rebar climbed 1.3% to stand at 1.16 million mt, up 3.7% year on year.