China’s stainless steel inventory drops due to reduction in arrivals

According to statistics on August 11, China’s social inventories of stainless steel have been dropping for three consecutive weeks, of which the decrease in Foshan was the biggest, mainly the reduction in arrivals.

The current stainless steel inventory basically maintains sufficient at 850,000 tons, which limited the price increase. In spite of steel mills’ production reduction, the social stock has been used slowly.

The main reasons for the significant decline in the Foshan inventory were the decrease in arrivals of steel mills, overhauling and production cut at major steel mills in South China, and shipping affected by military exercises.