WEEKLY: Chinese traders' stainless stocks dip

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs edged down over February 27-March 5 to reach 1.02 million tonnes, lower by a small 5,502 tonnes or 0.5% from the prior week, according to Mysteel's latest 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. The decline was mainly seen in stainless steel inventories in warehouses in Wuxi, where the tonnage slipped by 4.1% on week during the latest survey