Long steel social inventories in Guangzhou rose 2.71% on week

SHANGHAI, Dec 30 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou increased 2.71%, or 21,100 mt, in the week ended December 30 to 800,100 mt, showed SMM data. Stocks were 17.6% higher than the same period last year.

Rebar accounted for 615,500 mt of the social inventories, up 4.02% or 23,800 mt from a week ago and up 28.6% from a year ago. Meanwhile, wire rods inventories totalled 184,600 mt, down 1.44% or 2,700 mt week on week and down 8.5% year on year.