WEEKLY: Chinese traders' stainless steel stocks fall further

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan - China's two main stainless trading hubs - continued to decrease over October 17-23, with the volume falling for the second straight week by 11,994 tonnes or 1.3% on week to stand at 903,722 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 steel inventories in Wuxi dropped by 1.1% from the previous survey week, while the volume in Foshan posted a slightly