WEEKLY: Chinese traders' stainless stocks rise for 2nd week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, grew fractionally for a second week during June 26-July 2 to reach 941,436 tonnes, higher by 1,698 tonnes or 0.2% from 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. The increment occurred in warehouse inventories in Wuxi, where the volume increased by a small 0.6% on week, offsetting the slight decrease of 0.5% in stainless stocks in warehouses in Foshan,