WEEKLY: China traders' stainless stocks mount further

Total inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless trading hubs, mounted further over February 2-8, with the total volume up for a second week by another 28,972 tonnes or 3.4% on week at 878,998 tonnes, according to Mysteel's latest weekly survey.

The sample size under Mysteel's tracking comprises 50 warehouses in Wuxi in East China's Jiangsu province and 28 warehouses in Foshan in South China's Guangdong province. Among the total, stainless stocks in Wuxi gained 4.2% on week while the tonnage in Foshan increased by 1.9% from the previous week,