WEEKLY: China's stainless steel prices rise amid tighter supply

Prices of stainless products rose across the board in both Wuxi and Foshan - China's core stainless hubs - during August 11-15, though prices of 300-series cold-rolled coil (CRC) in Wuxi bucked the trend by dripping slightly, Mysteel Global observed.

Tighter available cargoes in China's domestic spot markets, combined with price hikes by major stainless mills, had accounted for the buoyant stainless market, according to market sources. On August 15, Mysteel assessed the price of 201/J2-grade CRC in Wuxi in East China's Jiangsu province at Yuan 7,350/tonne ($1,023.4/t) in-warehouse, including