WEEKLY: Chinese traders' stainless steel stocks edge down again

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, continued the downtrend during the period of September 4-10, with the volume inching down by a marginal 609 tonnes on week to 937,500 tonnes, according to Mysteel's latest weekly survey.

The survey covers 50 warehouses in Wuxi in East China's Jiangsu province and 28 warehouses in Foshan in South China's Guangdong province. The drop was mainly reflected in the stainless stocks in Foshan, where the tonnage declined by 2.3% from the prior week, while those in Wuxi accumulated slightly by