MYSTEEL: China’s stainless stocks down, prices stabilize
Oct 30, 2020 18:00
Stainless steel inventories at commercial warehouses in Wuxi and Foshan, China’s two core stainless trading hubs, reversed down significantly by 8.3% on week over October 23-29 after the prior week’s slight rebound, according to Mysteel’s latest weekly survey. Respondents pointed to steady consumption among end-users and fewer arrivals at traders’ warehouses.
Total tonnage at the two hubsreached 465,089tonnes
as of October29.Inventoriesin Wuxi, in East China’s Jiangsu
province,fell by 9.4%on weekin contrast to the growth
of3.2% overthe prior week, while those in Foshanin South
China’s Guangdong provincewitnessed a larger on-week decrease of 6.2%, as
against the previous decline of 3.7%, the results showed.
Stainless Steel Stocks in