SHANGHAI, Dec 11 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou rose this week for a second straight week, increasing 6.01% from a week ago to 680,500 mt as of Wednesday December 11, SMM data showed.
Inventories were 14.83% higher than a year earlier.This was driven by stocks of rebar, which increased 11.19% week on week and 50.42% year on year to 478,800 mt.
Stocks of wire rods declined 4.54% this week to 201,700 mt, 26.5% lower than the same period last year.
