Long steel social inventories in Guangzhou fell for 2 weeks

SHANGHAI, Oct 30 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou of Guangdong province deceased for the second straight week, to stand 691,700 mt as of Wednesday October 30, 7.39% lower from a week ago, SMM data showed.

Stocks remained 22.71% higher than the same period last year.

Compared to a week earlier, rebar inventories in Guangzhou shrank 9.26% to 364,400 mt, 7.52% higher than a year ago.

Stocks of wire rods fell 5.21% to 327,300 mt, with a year on year increase of 45.6%.