Long steel social inventories in Guangzhou fell 2.15% on week

SHANGHAI, Oct 29 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou decreased 2.15%, or 28,900 mt, in the week ended October 28 to 1.32 million mt, showed SMM data. Stocks were 90.6% higher than the same period last year.

Rebar accounted for 753,500 mt of the social inventories, down 2.52% or 19,500 mt from a week ago and up 106.8% from a year ago. Meanwhile, wire rods inventories totalled 564,800 mt, down 1.64% or 9,400 mt week on week but up 72.6% year on year.