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MYSTEEL: China traders' stainless stocks increase 1%

ABSTRACT

Inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless trading hubs, recovered by 1% to 640,644 tonnes over July 29-August 4 from the prior week's decline, according to Mysteel's latest survey. The rise in stocks chiefly reflected the uptick in deliveries to traders' warehouses and the users' weak buying, according to survey respondents.
Among the total, stocks in Wuxi in East China's Jiangsu province thinned for the second week by a smaller 0.7% on week, while the volume in Foshan in South China's Guangdong province rebounded by 5.7% on week after the prior week's dip, the survey found.   Meanwhile, stocks of 300-series stainless products

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