WEEKLY Chinese traders' stainless stocks edge down

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs declined slightly during November 28-December 4 to 922,665 tonnes, down by 12,568 tonnes or 1.3% on week after the rise over 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. Stainless steel inventories at warehouses in both Wuxi and Foshan edged down during the latest survey period, with the volume in Wuxi slipping by 0.5%