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Long steel social inventories in Guangzhou fell 9.5% on week
Social inventories of long steel (including wire rods and rebar) in Guangzhou fell faster this week, decreasing 9.53% from a week ago to 1.76 million mt as of Wednesday May 13, larger than a decline of 5.17% in the previous week, showed SMM data.
SHANGHAI, May 13 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou fell faster this week, decreasing 9.53% from a week ago to 1.76 million mt as of Wednesday May 13, larger than a decline of 5.17% in the previous week, showed SMM data.
The stocks were 32.76% higher than the same period after the Lunar New Year holiday last year.
Rebar accounted for 1.24 million mt, down 8.05% from a week ago but up 33.47% from a lunar year ago.
The rest 522,100 mt is wire rods, down 12.84% week on week but 31.08% higher than the same period after the Lunar New Year the year before.
Inventory data
Long steel
Rebar
Wire rods
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