WEEKLY: Chinese traders' stainless steel stocks dip again

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, dipped for the third consecutive week during the period of September 11-17 to reach 934,231 tonnes, lower by 3,269 tonnes or 0.4% from the prior week, 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. During the survey period, stainless stocks at warehouses in Wuxi declined by 2% on week, contributing to the further decrease in total inventories in the two trading hubs.