WEEKLY: Chinese traders' stainless stocks up 2% on week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs rose further during the week of January 30-February 5, with the volume climbing for the third consecutive week by 17,341 tonnes or 2.1% on week to 851,985 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 Wuxi climbed by 1.2% from the prior week, while the tonnage held in warehouses in