WEEKLY: Chinese stainless prices mixed, 400-series lose ground

Chinese spot prices of major stainless steel products showed mixed trends last week, with 300- and 200-series cold-rolled coil (CRC) prices holding firm amid better market sentiment, while those for 400-series posted declines as some traders cut offers to facilitate sales.

The spot price of 304/2B Hongwang 2*1240mm stainless CRC in East China's Wuxi was assessed by Mysteel at Yuan 12,700/tonne ($1,796/t) in-warehouse and including the 13% VAT on December 5, unchanged on week. Austenitic CRC prices were primarily underpinned by firmer production costs. As of December 5, the average production