WEEKLY: China's 304 stainless markets sag as Tsingshan lowers prices

Spot prices for 304-grade stainless steel declined sharply across China's major trading hubs during October 30-November 5, Mysteel's latest survey showed.

On November 5, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil in East China's Wuxi at Yuan 12,800/tonne ($1,796/t) in-warehouse and including the 13% VAT, lower by Yuan 150/t from a week earlier. On the same day, the spot price of the same product in