Long steel social inventories in Guangzhou rose after 4-week decline

SHANGHAI, Dec 4 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou of Guangdong province ended four consecutive weeks of decline and rose 19.31% from a week ago to 625,900 mt as of Wednesday December 4, SMM data showed.

Stocks were 16.69% higher than a year earlier.

This week, rebar inventories in Guangzhou rebounded 29.81% to 417,600 mt, 47.46% higher than a year ago.

Stocks of wire rods climbed 2.66% to 208,300 mt, but remained 17.7% lower year on year.