WEEKLY: Chinese traders' stainless stocks down faster

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan -- China's two main stainless trading hubs declined at a faster pace over March 13-19 to reach 979,281 tonnes, with the on-week fall widening to 2.1% as against the decrease of 1.7% over the prior week, 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. Among the total, stainless steel inventories at warehouses in Wuxi slipped by 1.9% on week during the survey period, while the volume at warehouses in Foshan posted a sharper on-week fall