WEEKLY: China traders' stainless stocks up 2.4%

Inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless trading hubs, reversed up after the continuous decrease over the prior six weeks, with the total volume gaining 19,542 tonnes or 2.4% on week to 831,074 tonnes as of June 25, according to Mysteel's latest weekly survey.

Among the total, stainless stocks in Wuxi in East China's Jiangsu province increased by another 1.9% on week, and the volume in Foshan in South China's Guangdong province posted a sharper on-week rise of 3.5% during the same period, the survey showed. The accumulation in stocks was mainly due to