WEEKLY: Chinese traders' stainless stocks mount further

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs continued to mount during January 23-29 to reach 834,644 tonnes, rising for the second week by 24,103 tonnes or 3% on 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. During the sampled period, stainless steel inventories at warehouses in Wuxi increased slightly by 0.7% on week, while the volume held in warehouses in Foshan