WEEKLY: Prices of most stainless grades decline, except for Moly-based stainless

China's stainless steel market broadly declined during the past week, with most grades losing ground, particularly 201 and 304 stainless coils. In contrast, molybdenum (Mo)-containing grades such as 316L saw notable gains, driven by firm ferromolybdenum (FeMo) prices, Mysteel Global has learned.

Prices of 200-series stainless steel slumped significantly last week, with the price of 201/J2 cold-rolled coil (CRC) in East China's Wuxi dropping by Yuan 200/tonne ($27.9/t) week-on-week to Yuan 7,200/t in-warehouse including tax as of May 23. The decline in 200-series prices was largely triggered by lower list prices announced