WEEKLY: Chinese traders' stainless stocks slip again

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs declined for the fifth consecutive week during December 26-31, with the total tonnage down 21,071 tonnes or 2.5% on week at 833,219 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 survey period, stainless steel inventories at warehouses in both Wuxi and Foshan declined, with the volume in Wuxi easing by 1.8% on week,