WEEKLY: Chinese traders' stainless stocks hit 11-month low

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs continued declining during the week of December 19-25, with the total volume lower by 34,570 tonnes or 3.9% on week to reach 854,290 tonnes, according to Mysteel's latest weekly survey. The decline was the fourth straight on-week fall, with the total also being the lowest since the start of February, the data show.

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. Among the total, stainless steel inventories stocked in warehouses in Wuxi declined by 1.8% from the previous week, while the tonnage in warehouses in Foshan