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Long steel social inventories in Guangzhou fell 5% over the holiday
May 6,2020 15:03CST
data analysis
Source:SMM
Social inventories of long steel (including wire rods and rebar) in Guangzhou continued to trend lower over the five-day Labour Day holiday, falling 5.17% from a week ago to 1.95 million mt as of May 6, 36.25% higher than the same period after the Lunar New Year holiday last year, showed SMM data.

SHANGHAI, May 6 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou continued to trend lower over the five-day Labour Day holiday, falling 5.17% from a week ago to 1.95 million mt as of May 6, 36.25% higher than the same period after the Lunar New Year holiday last year, showed SMM data.

                   

Rebar accounted for 1.35 million mt, down 3.52% from a week ago but up 34.55% from a lunar year ago.

 

The rest 599,000 mt is wire rods, down 8.69% week on week but 40.22% higher than the same period after the Lunar New Year the year before.

Inventory data
Long steel
Rebar
Wire rods

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