WEEKLY: Chinese prices of most stainless grades stabilize on cost support

Spot prices of most stainless steel products in China held the line last week, supported by steady feedstock prices and a modest improvement in market sentiment, new Mysteel data show.

The spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil (CRC) in Wuxi, East China, was assessed by Mysteel at Yuan 12,700/tonne ($1,795/t) in-warehouse and including the 13% VAT on November 28, flat on week. Austenitic CRC prices were mainly underpinned by firmer cost support, as prices of the feedstock