WEEKLY: Chinese traders' stainless stocks down again

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs declined slightly during the week of April 3-9, with the tonnage easing for a second week by 7,152 tonnes or 0.7% on week to reach 978,878 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. Among the total, stainless steel stocked at warehouses in Wuxi slipped by a tiny 0.3% from one week earlier, while the tonnage at warehouses in Foshan fell by 1.5% on week,