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Long steel inventories in Guangzhou slowed decline as supply recovered
Jul 29,2020 16:40CST
data analysis
Source:SMM
That marked the fifth consecutive week of decline, driven by the release of pent-up demand after the rainy season. However, the slide slowed down from a drop of 5.86%, or 86,100 mt, in the previous week, as production from EAF steel mills rebounded and an escalation in US-China relations weighed on market sentiment and depressed speculative demand. 
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