WEEKLY: China's stainless prices rebound as costs, futures climb

Prices of most flat-rolled stainless steel products in China's core stainless hubs rallied during the week ending August 29, bolstered mainly by higher production costs and stronger derivative prices in Shanghai.

On August 29 for example, the spot price of 304/2B Hongwang 2*1240mm cold-rolled coil (CRC) in Wuxi, East China, was assessed by Mysteel at Yuan 13,100/t ($1,837/t) in-warehouse and including the 13% VAT, up by Yuan 100/t on week. The recent surge in prices of high-grade nickel pig iron (NPI)