WEEKLY: China 304 stainless prices soften on weaker futures, Tsingshan's cut

China's domestic 304 stainless steel market experienced a price pullback during March 12-18, largely influenced by declining futures prices and a guidance cut from the country's largest producer, according to Mysteel's latest survey.

On March 18, Mysteel assessed the spot price of 304/2B Hongwang 2mm*1240mm stainless cold-rolled coil (CRC) in Wuxi, East China, at Yuan 14,300/tonne ($2,081/t), in-warehouse and including the 13% VAT, down Yuan 150/t from a week earlier. The pullback tracked losses in the futures market where the most-traded stainless steel