WEEKLY: Chinese traders' stainless stocks decline for 2nd week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan -- China's two main stainless trading hubs -- continued to fall over March 6-12, declining for the second consecutive week by 17,009 tonnes or 1.7% to 999,810 tonnes, according to Mysteel's latest survey.

The survey covers 50 warehouses in Wuxi, East China's Jiangsu province, and 28 in Foshan, South China's Guangdong province. Stainless steel stocks at traders' warehouses in both cities declined during the survey period, with Wuxi down 1.3% on week and Foshan down 2.2%, the findings showed. The continued decline was mainly