Chinese Wuxi stainless steel inventory rises in late Oct
It was reported that the stainless steel inventory in Wuxi region reached to around 230,000 tons in late October 2018, increasing by 4.1% compared with the period of first half of October.
Among them, the stock of cold-rolled material was about 130,000 tons, which was 1.91% higher than the previous period. The total hot-rolled inventory was about 99,700 tons, an increase of 7.10% over the previous period.
The main factors of this inventory increase were mainly because weak demand of local market and more goods of orders signed in the early stage were arriving in the market, which led to a significant rise in inventory pressure.
According to the inventory data, the rise of the period has reached to the highest in recent months and the possibility of rising further was less.
