WEEKLY: Chinese traders' stainless steel stocks fall for 3rd week

Total inventories of finished stainless steel in commercial warehouses in Wuxi and Foshan, China's two main stainless steel trading hubs, declined for the third straight week during October 23-29 to reach 897,943 tonnes, slipping by 21,692 tonnes or 2.4% 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 latest survey period, stainless steel inventories at warehouses in Wuxi posted an on-week fall of 3.9%, although inventories piled at warehouses in Foshan inched up by