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MYSTEEL: China’s stainless steel stocks keep stable

Stainless steel inventories at commercial warehouses in Wuxi and Foshan, China’s two stainless trading hubs, remained stable over July 3-9 with new arrivals from steel mills replenishing stocks depleted by the continued consumption of stainless users. The tonnage stayed at 488,683 tonnes, almost unchanged from one week previously, according to Mysteel’s latest weekly survey.
Within the total, inventories in Wuxi, East China’s Jiangsu province,reversed up by 2.6% on week to 274,274 tonnes as of July 9, ending the continuous decline over the prior two months, while the volumein Foshan,in South China’s Guangdong province,witnessed a week-on-week decline of 3.1% after mounting for three weeks straight, the survey showed. Stainless Steel Stocks

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