MYSTEEL: China’s stainless stocks dip on lower deliveries
Aug 14, 2020 18:45
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Stainless steel inventories at commercial warehouses in Wuxi and Foshan, China’s two stainless trading hubs, reversed down over August 7-13 after a short-lived recovery in the prior week, as the deliveries of stainless products to traders’ warehouses slowed down during the period, according to Mysteel’s latest survey.
Mysteel’s latest weekly survey showed that the total tonnage of stainless hot-rolled coils (HRCs) and cold-rolled coils (CRCs) atthese two trading hubs decreasedby 3.35% on week or down 12.9% on year to 458,628tonnesby August 13, the survey showed.
The stocks inFoshan of South China’s Guangdong provincedropped for for the third week,