WEEKLY: Chinese traders' stainless steel stocks up 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 move up during August 21-27, with the volume rising for the second week by 18,950 tonnes or 2% on week to 947,619 tonnes, according to Mysteel's latest weekly survey.

During the latest survey period, retail stainless inventories in Wuxi edged up by 0.9% from the previous week, while the tonnage piled at the surveyed warehouses in Foshan posted a more notable weekly growth of 4.1%, the findings showed. The survey covers 50 warehouses in Wuxi in East China's