WEEKLY: Chinese traders' stainless stocks edge down

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless trading hubs, returned to move down during the week of June 5-11 to reach 943,491 tonnes, edging lower by 8,207 tonnes or 0.9% on week after a brief rise over the prior week, according to Mysteel's latest weekly 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, stainless products stocked at the warehouses in Wuxi decreased by 0.8% from the prior week, while the volume in Foshan also declined by 1% on week, the