WEEKLY: Steady fall in Chinese traders' stainless stocks ends

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless trading hubs, stopped falling during the week of May 1-7, rising by 13,324 tonnes or 1.4% on week to reach 959,899 tonnes, according to Mysteel's latest survey. The gain ended five straight weeks of declines.

The survey covers 50 warehouses in Wuxi, East China's Jiangsu province, and 28 in Foshan, South China's Guangdong province. The accumulation was mainly due to the large volumes delivered to the sampled warehouses after China's May Day holiday over May 1-5. Although end-users returned to the market for replenishment after