WEEKLY: China 300-series stainless prices surge post-CNY

China's spot prices for 304-grade stainless kicked off trading this week with solid gains after the extended Chinese New Year (CNY) holiday from February 15-23, the results of Mysteel's latest survey show. Respondents attributed the lift to strong futures prices and gradually recovering market sentiment.

In East China's Wuxi, spot prices for both cold-rolled and hot-rolled stainless products moved upward following the holiday break. On February 25, Mysteel assessed the spot price of 304/2B Hongwang 2mm*1240mm stainless CRC in the city at Yuan 14,350/t ($2,097/t) in-warehouse and including 13% VAT, up Yuan 200/t from