WEEKLY Chinese traders' stainless stocks down to 2.5-mth low

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs declined continuously during December 12-18, with the total tonnage falling for the third consecutive week by 19,243 tonnes or 2.1% on week to touch a 2.5-month low of 888,860 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. During the latest survey period, stainless steel inventories at warehouses in Wuxi edged up by 0.3% on week, while the volume at warehouses in Foshan