WEEKLY: China 304 stainless prices spike on bullish sentiment

Spot prices for 304-grade stainless steel soared in China's major stainless trading hubs during December 31 2025-January 7 2026, the results of Mysteel's latest survey showed. The survey period covered the New Year's Day holiday over January 1-3 and a substitute workday on January 4. Price gains for austenitic grades were primarily driven by a surge in Shanghai's stainless futures prices and prevailing bullish market sentiment, Mysteel Global noted.

Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil (CRC) in East China's Wuxi at Yuan 13,950/t ($1,994/t) in-warehouse and including the 13% VAT on January 7, rising sharply by Yuan 800/t from a week earlier. The rise followed strong performance in the futures market, as the