WEEKLY: Chinese traders' stainless stocks fall for 3rd week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan China's two main stainless trading hubs declined for the third consecutive week during April 10-16 to reach 962,978 tonnes, slipping by 15,900 tonnes or 1.6% on 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 stocked at warehouses in Wuxi dipped by 0.6% from the prior week, while the volume in warehouses in Foshan declined at a faster pace of 3.3%