Long steel social inventories in Guangzhou extend declines by 1.3% on week

Published: Aug 28, 2019 15:13

Save

Stocks decreased by 1.3% from a week ago to stand at 827,600 mt as of Aug 28

SHANGHAI, Aug 28 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, fell for a sixth straight week this week, albeit by a smaller margin, showed an SMM survey.

Stocks decreased by 1.3% from a week ago to stand at 827,600 mt as of Wednesday August 28, compared to a drop of 3.4% in the week to August 21. The figure as of August 28 was some 27.38% higher than a year ago.

Inventories of rebar shrank 2.87% from a week earlier but rose 18.68% from a year earlier to 453,700 mt.

Stocks of wire rods, meanwhile, inched up 0.67% week on week to 373,900 mt, standing 39.83% higher than the same period last year.

Inventory data Long steel Rebar Wire rods

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

[SMM Cobalt Market Flash] SMM VP Shirley: Indonesia MHP Cobalt to Rise as Global Supply Shifts to Dual-Centre Model

At the 2026 SMM Indonesia Mining & Critical Metals Conference, SMM VP Shirley Wang said the DRC has historically been the dominant centre of global cobalt supply, but Indonesia's share has risen notably following policy shifts last year. Over the next decade, cobalt contained in Indonesian MHP is expected to account for a growing proportion of global supply, with the market transitioning from a DRC-centric structure to a dual-centre model anchored by both the DRC and Indonesia.

1 hour ago

[SMM Stainless Steel Flash] Global Stainless Steel Output Up 2.5% YoY in Q1 2026

The World Stainless Association announced that, global stainless steel production rose 2.5% YoY to 15.8 million tons in Q1 2026. Asia produced 13.4 million tons from January to April, up 3.3% YoY, with China contributing 9.84 million tons (+4.3% YoY). The EU saw output decline 4.6% YoY to 1.5 million tons, while the US produced 600,000 tons (+2.3% YoY).

1 hour ago

[SMM Stainless Steel Flash] Supply Worries Drive LME Nickel Prices to One-Month High

LME nickel futures rebounded above US$19,200/ton on une 1, closing at US$19,251/to, a one-month high, on the back of consecutive weekly gains. The rally was driven by declining pure nickel inventories and fresh mining disruptions, including Zimbabwe's restriction on nickel exports, offsetting a stronger US dollar amid rising Middle East tensions. Spot prices rose US$172 to US$19,039/ton, Nickel increase US$2,605 or 15.6% year-to-date.

1 hour ago