Long steel social inventories in Guangzhou fell for 3 weeks

SHANGHAI, Nov 13 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou of Guangdong province deceased for the third straight week, to stand 615,200 mt as of Wednesday November 13, 8.34% lower from a week ago, SMM data showed.

Stocks remained 13.13% higher than the same period last year.

Compared to a week earlier, rebar inventories in Guangzhou shrank 11.69% to 323,200 mt, 10.31% higher than a year ago.

Stocks of wire rods fell 4.33% to 292,000 mt, with a year-on-year increase of 16.4%.