WEEKLY: Chinese traders' stainless stocks dip further

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless trading hubs, continued the downtrend during the week of June 12-18, with the tonnage dipping for the second week by 4,543 tonnes or 0.5% on week to reach 938,948 tonnes, 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. The recent decrease was mainly attributed to lower stainless stocks seen at warehouses in Foshan, where the volume fell by a marked 4.6% from the prior week thanks to local end-users'