Long steel social inventories in Guangzhou dipped 0.09% on week

SHANGHAI, Jun 10 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou fell slower this week, showed SMM data.

The stocks decreased 0.09%, or 1,400 mt, in the week ended June 10 to 1.53 million mt, much smaller than a decline of 4.19%, or 66,900 mt, in the previous week.

The stocks were 30.6% higher than the same period last year.

Rebar accounted for 1.08 million mt, down 1.56% from a week ago but up 39.3% from a year ago.

The rest 448,500 mt was wire rods, up 3.63% week on week and 13.52% year on year.