WEEKLY: China 304 stainless prices fall before rebounding

Spot prices for 304-grade stainless steel in China's major trading hubs softened initially during Mysteel's survey period of January 8-14 before rebounding, resulting in mixed weekly performances across regions.

Specifically, 304 stainless cold-rolled coil (CRC) prices moved in opposite directions between East China's Wuxi and in South China's Foshan, the survey data show. On January 14, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless CRC in Wuxi at Yuan 13,900/t ($1,995/t) in-warehouse and including the 13% VAT, down by