WEEKLY: Chinese traders' stainless stocks fall 1.8%

Total inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless steel trading hubs, maintained the downtrend over October 25-31, with the volume thinning for the second week by another 16,644 tonnes or 1.8% on week to 911,425 tonnes, according to Mysteel's latest weekly survey.

The sample size under Mysteel's tracking comprises 50 warehouses in Wuxi in East China's Jiangsu province and 28 warehouses in Foshan in South China's Guangdong province. Among the total, stainless inventories in Wuxi dipped by 0.6% from the prior week, and the tonnage in Foshan posted a sharper on-week fall