Long steel social inventories in Guangzhou rose 5.57% on week

SHANGHAI, Mar 4 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou increased 5.57%, or 123,500 mt, in the week ended March 3 to 2.34 million mt, showed SMM data. Stocks were 0.22% lower than the same period last year.

Rebar accounted for 1.5 million mt of the social inventories, up 7.11% or 99,700 mt from a week ago and down 1.26% from a year ago. Meanwhile, wire rods inventories totalled 839,700 mt, up 2.92% or 23,800 mt week on week and up 1.7% year on year.