Long steel social inventories in Guangzhou fell 1.42% on week

SHANGHAI, Jun 17 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou decreased 1.42%, or 21,700 mt, in the week ended June 17 to 1.51 million mt, much larger than a decline of 0.09%, or 1,400 mt in the previous week, showed SMM data.

The stocks were 36.66% higher than the same period last year.

Rebar accounted for 1.07 million mt, down 0.8% from a week ago but up 48.83% from a year ago.

The rest 435,400 mt was wire rods, down 2.92% week on week but up 13.77% year on year.