WEEKLY: Chinese traders' stainless stocks fall 3%

Total inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless steel trading hubs, began declining once again during December 6-12 after their short-lived rise the previous week, with the total tonnage shrinking by 24,263 tonnes or 2.8% on week to touch a 10.5-month low of 830,463 tonnes as of Thursday, 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. During the survey period, stainless stocks at warehouses in Wuxi fell by 3.2% on week while those in Foshan slipped by 2.1% from the