Long steel social inventories in Guangzhou fell 3% on week

SHANGHAI, Apr 22 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou continued to trend lower in the week ended April 22, falling 3.18% to 2.13 million mt, 37.69% higher than the same period after the Lunar New Year holiday last year, showed SMM data.

Rebar accounted for 1.39 million mt, down 1.88% from a week ago but up 25.76% from a lunar year ago.

The rest 740,900 mt is wire rods, down 5.52% week on week but 67.55% higher than the same period after the Lunar New Year holiday last year.