SHANGHAI, Feb 19 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou were 22.23% higher than the same period after the Lunar New Year holiday last year, showed SMM data.

As of Wednesday February 19, the stocks stood at 2.35 million mt, up 14.16% from a week earlier.

Inventories of rebar accounted for 1.52 million mt, 15.18% higher than a week ago and 25.71% higher than the same period after the Lunar New Year holiday a year before.

Inventories of wire rods in Guangzhou increased 12.32% week on week and 16.3% year on year to 825,700 mt.