Long steel social inventories in Guangzhou fell 114,700 mt on week

SHANGHAI, Apr 7 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou decreased 114,700 mt, in the week ended April 7 to 1.91 million mt, showed SMM data. Stocks were 336,100 mt lower than the same period last year.

Rebar accounted for 1.2 million mt of the social inventories, down 75,200 mt from a week ago and down 231,200 mt from a year ago. Meanwhile, wire rods inventories totalled 709,500 mt, down 39,500 mt week on week and down 104,900 mt year on year.