MYSTEEL: Where are China's stainless prices heading after revisiting yearly lows?

Spot prices of 304-grade stainless cold-rolled coils (CRC) in Foshan city -- a key stainless trading hub in South China -- fell back to this year's low of Yuan 12,600/tonne ($1,774/t) in-warehouse and including tax on November 24, a level previously tested in June, according to Mysteel's assessment.

The price decline gained momentum after Foshan-based agents of Tsingshan Group – the country's largest stainless producer – slashed their 304 CRC offers by Yuan 100/t on the same day. The agents' move came just hours after the group had announced it was holding its list prices for both