WEEKLY: Chinese traders' stainless steel stocks down again

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, continued to move down during October 16-22, with the tonnage slipping for the second week by 14,796 tonnes or 1.6% on week to 919,635 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. During the latest survey period, stainless steel inventories at warehouses in Wuxi dipped by 0.9% from the week prior, while the tonnage at warehouses in Foshan slipped by