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Stainless steel inventories in China’s trading centers fell last week.

During the period between August 5 and August 11, the two major stainless steel trading hubs in China, Wuxi and Foshan, saw their inventories drop by 3.4% week-on-week to approximately 619,000 tonnes. The decrease was mainly driven by a sharp drop in arrivals over the past week.

Additionally, maintenance and overhauls conducted at two stainless steel mills in southern China in early August also impacted shipment volumes to Foshan.

Stainless steel prices remain under pressure due to sluggish current demand from downstream buyers. Most Chinese stainless steel producers have begun reducing output, yet it remains difficult to support stainless steel prices.

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