WEEKLY: Chinese traders' stainless stocks retreat on end-user replenishment

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless trading hubs, retreated again during the week of May 8-14 after the short-lived rise over the prior week, with the tonnage down 13,532 tonnes or 1.4% on week to 946,367 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, inventories at warehouses in Wuxi declined by 2.4% on week, offsetting the slight on-week accumulation of 0.3% in stocks at warehouses in Foshan, the findings showed. The replenishment by