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July 17 (LTIT) –Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, rose this week for a second straight week, gaining 0.31% from a week earlier to stand at 1.08 million mt as of Wednesday July 17, showed SMM data. This was driven by an increase of 7.18% in stocks of wire rods, which came in at 441,800 mt, up 102.01% from a year ago. Overall long steel stocks gained 48.38% on a yearly basis. Inventories of rebar declined 3.97% from a week ago but grew 25.28% from a year ago to stand at 635,900 mt as of July 17. |
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