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MYSTEEL: China traders’ stainless stocks shrink lower

ABSTRACT

Total inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China’s two core stainless trading hubs, emptied for the third week over October 10-14 by another 3.5% on week, as deliveries to traders' warehouses remained scant due to the ongoing restrictions among stainless producers.
Mysteel’s latest weekly survey showed that inventories in the two hubs totalled 619,736 tonnes as of October 14, down another 22,402 tonnes from the prior survey period. Within the total, stocks in Wuxi in East China’s Jiangsu province reversed down 2.4% on week over October 10-14 after the prior two weeks of growth, while the

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