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MYSTEEL: China’s stainless stocks grow by 2.2% to Sept 17

Stainless steel inventories at commercial warehouses in Wuxi and Foshan, China’s two core stainless trading hubs, rose for the second consecutive week over September 11-17, though at a faster pace of 2.2% against the 0.6% rise over the prior week, according to Mysteel’s weekly survey. The persistent weakness of demand from end-users and the pickup in arrivals at traders’ warehouses were mainly responsible.
Total stainless stocks at the two hubs reached462,427 tonnesas of September 17. Among the total,stainless stocks in Wuxi, in East China’s Jiangsu province, reversed up slightly during the survey periodaftersliding for the prior two weeks,rising1.35% on week. Meanwhile, those in Foshan in South China’s Guangdong province grew for the fourth consecutive week, edging higher by


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