WEEKLY: Chinese traders' stainless steel stocks drop to 7-mth low

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, declined at a faster pace during September 18-24, touching a seven-month low of 918,423 tonnes.

The stocks had fallen for the fourth consecutive week by 15,808 tonnes or 1.7% on week, compared with a 0.4% dip in the previous week, according to Mysteel's latest weekly survey which covers 50 warehouses in Wuxi in East China's Jiangsu province and 28 warehouses in Foshan in South