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MYSTEEL: China’s stainless stocks down another 6.6%

Inventories of all grades of stainless steel at commercial warehouses in Wuxi and Foshan, China’s two core stainless trading hubs, continued their decline over November 27-December 3, with the total volume down another 6.6% on week to 434,207 tonnes, according to Mysteel’s latest weekly survey. Respondents pointed to the reduction in tonnage arriving at traders’ warehouses to explain the on-week tumble, and the continuous deliveries to customers.
Among thetotal,inventoriesin Wuxi, in East China’s Jiangsu province,witnessed a sharper on-week fall of 5.6% – as against the previous survey’s on-week decline of 3.5% – while those inFoshanin South China’s Guangdong province slipped by another 8.5% on week over November 27-December 3,the survey showed. Stainless Steel Stocks in WuxiandFoshan Note:Includingall the series of stainless products at the traders. The further


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