WEEKLY Chinese traders' stainless stocks fall again

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs continued to move down over December 5-11, with the total volume down for the second week by 14,562 tonnes or 1.6% on week to reach 908,103 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 in Foshan in South China's Guangdong province. The decrease was mainly seen in stainless steel inventories at warehouses in Foshan, where the tonnage slipped by a marked 5% from the prior week,