Long steel social inventories in Guangzhou fell 2.1% on week

SHANGHAI, Apr 1 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou continued to trend lower in the week ended April 1, falling 2.1% to 2.25 million mt, 26.01% higher than the same period after the Lunar New Year holiday last year, showed SMM data.

Rebar accounted for 1.44 million mt, down 2.16% from a week ago but up 19.15% from a lunar year ago.

The rest 811,500 mt is wire rods, down 1.98% week on week but 40.37% higher than the same period after the Lunar New Year holiday last year.