WEEKLY: Chinese traders' stainless stocks dip again

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless trading hubs, continued falling during the week of May 15-21 to reach 944,007 tonnes by Thursday, down for the second week by 2,360 tonnes or 0.3% on week, according to Mysteel's latest survey. The rate of decline was slower than the previous week's 1.4% drop, however.

The survey covers 50 warehouses in Wuxi, East China's Jiangsu province, and 28 in Foshan, South China's Guangdong province. The findings showed that during the survey period, inventories of stainless steel products stocked at warehouses in both Wuxi and Foshan edged down by 0.2% and 0.4% respectively from the previous