Total inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China’s two core stainless trading hubs surveyed regularly by Mysteel, rose for the second week over November 19-25, mounting by another 5.8% on week. Survey respondents cited the uptick in arrivals at the surveyed warehouses and slowing demand from end-users.
As of November 25, the total volume being warehoused was 620,491 tonnes. Among the total, stocks in Wuxi in East China’s Jiangsu province had gained another 4.4% on week, while the volume in Foshan in South China’s Guangdong province had posted a sharper rise of 9.9% on week. The rise