WEEKLY: Market optimism lifts most China stainless grades

Spot prices of most stainless steel grades in China gained ground last week, according to Mysteel's latest survey results. This upward movement, especially for 300-series stainless, was driven by surging futures prices in Shanghai and prevailing bullishness in the market, survey respondents said.

For 200-series products, prices increased in tandem with rising raw material costs as stainless makers responded to higher prices of nickel pig iron, with Mysteel assessing the price of 201/J2-grade cold-rolled coil (CRC) in East China's Wuxi on December 26 at Yuan 7,300/tonne ($1,039/t) in-warehouse and including the 13%