Long steel social inventories in Guangzhou declined 8% on week

SHANGHAI, Oct 23 (SMM) – Social inventories of long steel (including wire rods and rebar) in Guangzhou of Guangdong province deceased to 746,900 mt as of Wednesday October 23, 8.25% lower from a week ago, SMM data showed.

Stocks were 20.22% higher than the same period last year.

Compared to a week earlier, rebar inventories across the region rose 2.29% to 401,600 mt, 10.39% higher than a year ago.

Stocks of wire rods fell 18.08% to 345,300 mt, with a year on year increase of 34.1%.