WEEKLY: Chinese traders' stainless steel stocks reverse down

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, reversed down during the period of October 10-15 after the continuous rise over the prior two weeks, with the tonnage down 35,033 tonnes or 3.6% on week to 934,431 tonnes, according to Mysteel's 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 latest survey period, stainless inventories moved down at the sampled warehouses in both Wuxi and Foshan, with the volume in Wuxi falling by a marked 4.9%