WEEKLY: China's 304 stainless prices stabilise despite supply woes

Prices for 304-grade stainless steel coils held largely stable across China's major stainless hubs during the week to September 10, even as market participants are becoming increasingly uncertain about whether this month will prove the peak month for stainless consumption that Septembers usually are.

On September 10, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil (CRC) in Wuxi, East China, at Yuan 13,150/tonne ($1,847/t) in-warehouse and including the 13% VAT, unchanged from a week earlier. While the supply pressure continues to overshadow the market, the higher production costs being borne