WEEKLY: China traders' stainless stocks edge down

Inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China's two core stainless trading hubs, edged down this week after the rise over the prior week, with the total volume losing 8,117 tonnes or 1% on week to reach 822,957 tonnes as of June 29, according to Mysteel's latest weekly survey.

Among the total, stainless stocks in Wuxi in East China's Jiangsu province dipped by 0.4% from the previous week, and those in Foshan in South China's Guangdong province slipped by 2.1% on week, the findings showed. One major reason for the on-week fall in stainless stocks was the fact that