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MYSTEEL: China stainless traders’ stocks at record high

China’s stainless steel stocks in Wuxi, one of the two stainless trading hub in East China’s Jiangsu province, refreshed its new high since Mysteel started the survey in July 2008, growing to 404,850 tonnes as of February 21, as downstream users have just been slowly resuming operations.
The tonnage went up for the fifth week, up another 14,150 tonnes or 3.6% on week, but the pace of increase eased compared with the prior two weeks, as “more downstream processing plants there have resumed operations with the support of local authorities’ series of measures, so consumption has picked

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