WEEKLY: China 304 stainless prices steady as firm costs offset tepid demand

China's domestic spot prices for 304-grade stainless steel held steady during March 5-11, caught between resilient production costs and cautious trading activity, the results of Mysteel's latest survey show.

As of March 11, Mysteel assessed the spot price of 304/2B Hongwang 2mm*1240mm stainless cold-rolled coil (CRC) in Wuxi, East China, at Yuan 14,450/tonne ($2,105/t), in-warehouse and including the 13% VAT, unchanged from a week earlier. Elevated raw material prices continued to provide a solid floor under costs, limiting any