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MYSTEEL: China traders' stainless stocks empty slowly

ABSTRACT

Inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless trading hubs, continued declining for an eighth week over June 24-30 to reach 655,266 tonnes, according to Mysteel's latest weekly survey. The on-week fall had slowed to 0.2% however, as against the previous week's 6.2% drop, the data show.
Among the total, stainless stocks in Wuxi in East China's Jiangsu province saw some accumulation this week after sliding for seven consecutive weeks, rising by 2.1% on week, while the volume in Foshan in South China's Guangdong province reversed down 7.2% on week after the increase over the prior week,

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