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August 14 (LTIT) –Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province, fell for a fourth straight week as of Wednesday August 14, showed an SMM survey. Stocks decreased by 7.01% from a week ago to stand at 868,000 mt as of Wednesday August 14, accelerating from a decline of 4.76% in the week to August 7. This was some 29.07% higher than a year ago. Inventories of rebar shrank 7.69% from a week earlier but rose 22% from a year earlier to 491,900 mt. Stocks of wire rods, meanwhile, dipped 6.09% week on week to 376,100 mt, standing 39.66% higher than the same period last year. |
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