WEEKLY: Chinese traders' stainless stocks climb further

Total inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two key stainless steel trading hubs, continued to swell during the week of February 7-13, with the volume mounting by another 31,797 tonnes or 3.4% on week to reach 976,138 tonnes, according to Mysteel's latest 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 stocks in warehouses in Wuxi increased by another 4.3% during the survey period, while the tonnage in Foshan witnessed a