WEEKLY: Chinese traders' stainless steel stocks mount for 2nd week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, continued to edge up during the period of July 24-30, with the tonnage rising for a second week by 2,991 tonnes or 0.3% on week to 941,249 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 products at warehouses in Wuxi inched up by 0.3% from the previous week, while the volume at warehouses in Foshan increased by a