Long steel social inventories in Guangzhou rose 3.7% on week

SHANGHAI, Dec 18 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou rose this week for a third straight week, increasing 3.73% from a week ago to 705,900 mt as of Wednesday December 18, SMM data showed. The inventories were 17.2% higher than a year earlier.

For the same week, stocks of rebar gained 3.22% to 494,200 mt, up 40.92% year on year. Stocks of wire rods climbed 4.96% this week to 211,700 mt, 15.9% lower than the same period last year.