Long steel social inventories in Guangzhou fell 0.77% on week

SHANGHAI, Oct 22 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou decreased 0.77%, or 10,500 mt, in the week ended October 21 to 1.35 million mt, showed SMM data. Stocks were 80.4% higher than the same period last year.

Rebar accounted for 773,000 mt of the social inventories, up 1.7% or 12,900 mt from a week ago and up 92.5% from a year ago. Meanwhile, wire rods inventories totalled 574,200 mt, down 3.92% or 23,400 mt week on week but up 66.3% year on year.