WEEKLY: Chinese traders' stainless steel stocks rise 1.6% on week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, rebounded during July 17-23 after the previous week's brief decline, with the tonnage rising by 14,862 tonnes or 1.6% on week to 938,258 tonnes, according to Mysteel's latest weekly survey.

The survey covers 50 warehouses in Wuxi in East China's Jiangsu province, and 28 in Foshan in South China's Guangdong province. Among the total, inventories of stainless steel products at warehouses in Wuxi increased by 1.9% on week, while the volume at warehouses in Foshan mounted by 1.1% from the