China’s Wuxi stainless steel stocks in week ending Mar 23 decrease
As of March 23, China’s Wuxi stainless steel inventory was about 708,000 tons, decreasing by 3.53% week on week. For 300 series products, the stocks totaled around 505,000 tons, a week-on-week decrease of 3.3%.
Amon them, the inventory of 300 series cold-rolled products went down by 4.57% from the previous week, and 300 series hot-rolled slightly fell by 1.7% week on week. It was the apparent first-time decrease after Lunar New Year.
Regarding steel mills in Eastern China, the pick-up volume decreased because the traders’ stocks and funds were under higher pressure. Steel mills slowed down their shipment, which resulted in a decrease in traders' inventories.
