Long steel social inventories in Guangzhou fell 0.56% on week

SHANGHAI, Aug 12 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou decreased 0.56%, or 7,400 mt, in the week ended August 12 to 1.31 million mt, showed SMM data. The stocks were 50.75% higher than the same period last year.

Rebar accounted for 818,600 mt, down 1.78% from a week ago but up 66.42% from a year ago.

The rest 489,900 mt was wire rods, up 1.53% week on week and 30.3% year on year.