WEEKLY: China traders' stainless stocks decline slowly

Inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless trading hubs, continued decreasing during June 9-15 to reach 811,532 tonnes, while the on-week fall slowed to 0.4% as against the 3.2% decline over the prior week, according to Mysteel's latest weekly survey.

During the survey period, stocks in Foshan in South China's Guangdong province decreased by 2.4% from the prior week, while the volume in Wuxi in East China's Jiangsu province accumulated slightly by 0.6% on week, the survey showed. Stainless transactions in the physical market remained tepid this week as many