WEEKLY Chinese traders' stainless stocks rise for 3rd week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs increased for the third consecutive week over November 7-13 to reach 932,166 tonnes, higher by 22,670 tonnes or 2.5% from the prior week, 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 in Foshan in South China's Guangdong province. The accumulation was mainly seen in inventories at Foshan, where total stainless stocks jumped by 11.9% on week during the survey period, offsetting the on-week