WEEKLY: Chinese traders' stainless stocks edge down further

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless trading hubs, thinned slightly during the week of May 22-28, with the total tonnage declining for the third consecutive week by a tiny 1,299 tonnes or 0.1% on week to reach 942,708 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. During the survey period, stainless steel inventories in warehouses in Wuxi declined by 0.9% on week, while the volume held in those in Foshan accumulated by 1.1% on week due to