WEEKLY: China's 304 stainless CRC prices suffer broad decline

Spot prices for 304-grade stainless steel tracked Shanghai futures prices during November 13-19 and mostly softened further in China's major trading hubs, the results of Mysteel's latest survey showed. The exception was cold-rolled coil (CRC) of the same grade in East China's Wuxi whose prices held firm.

On November 19, the spot price of 304/2B 2*1240mm stainless CRC in Wuxi produced by stainless roller Hongwang Stainless was assessed by Mysteel at Yuan 12,700/tonne ($1,787/t) in-warehouse and including the 13% VAT, unchanged from a week earlier. On the same day, Mysteel assessed the price of the same