WEEKLY: China traders' stainless stocks down 3.5%

Inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless trading hubs, resumed their fall over March 17-23 after the rise during the prior week, with the total volume dropping by 41,784 tonnes or 3.5% on week to 1.14 million tonnes, according to Mysteel's latest weekly survey.

Among the total, stocks in Wuxi in East China's Jiangsu province slipped by 3.5% from one week earlier, while the volume in Foshan in South China's Guangdong province recorded a similar on-week fall in percentage terms, the survey showed. The result was mainly attributed to the fact that Chinese steel