WEEKLY: China's stainless steel prices decline amid weak market sentiment

China's stainless steel prices experienced further weakening in both spot and futures markets over August 30-September 6, while traders' stainless inventories saw a modest drop as sales improved with their price cuts.

The price of 304/2B Hongwang 2*1240mm cold-rolled stainless coil (CRC) in Wuxi, a key stainless steel production hub in East China's Zhejiang province, decreased by Yuan 150/tonne ($21.1/t) on week to settle at Yuan 13,600/t by September 6, according to Mysteel's assessment. In the futures market, the most active stainless steel contract on