Weak fundamentals drag China's 304-grade stainless prices

With weak market fundamentals such as lower production costs and supply-demand imbalance, China's 304-grade stainless steel saw its prices continue to slip during November 21-28, according to market sources.

The spot price of 304/2B 2mm stainless cold-rolled coil in Wuxi, a top stainless trading hub in East China's Jiangsu, eased to Yuan 14,200/tonne ($1,986/t) in-warehouse and including the 13% VAT on November 28, down by another Yuan 250/t on week, Mysteel's assessment showed. By the same day, the spot price of 304/No.1 5mm stainless