Stewards in Melbourne are inquiring into Perth trainer Adam Durrant after a pre-race raid on stables housing his horse Mr Moet resulted in the discovery of a suspect traditional Chinese medicine.

Compliance Assurance Team stewards raided the stables before Mr Moet left for Caulfield where he ran second in the Peter Young Stakes.

As they entered the area where the horse was housed they allege they saw Durrant with an "alkalising agent" and the Chinese medicine developed by the People's Liberation Army for use as a coagulant.

"Our concern is that it was to be used for a pre-race treatment," said chief steward Terry Bailey.

Durrant told the stewards the Chinese medicine, Yunnan Baiyo, was to be used after the horse returned to the stables on Saturday night.

Racing Victoria vet Dr Brian Stewart told the stewards Yunnan Baiyo was principally used as an anti-bleeding medication.

In a sometimes tense exchange, Bailey warned Durrant about his attitude during the inquiry which has been adjourned to a date to be fixed.