WEEKLY: China stainless prices find support from higher costs, recovering demand

China's stainless steel spot prices held firm last week, supported by resilient raw material costs and signs of a demand recovery as end-users gradually returned to work after the Chinese New Year holidays, according to Mysteel's most recent survey results.

On March 6, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil (CRC) in Wuxi, East China at Yuan 14,450/t ($2,095/t) in-warehouse and including the 13% VAT, higher by Yuan 100/t on week. Traders were generally inclined to raise prices, their willingness to offer discounts being limited