WEEKLY: China 304 stainless prices surge amid improved trading

China's domestic market for 304-grade stainless steel recorded notable gains during the week of March 19-25, supported by a sharp rally in stainless steel futures, Mysteel Global learned. Spot trading picked up notably as market sentiment improved.

During the survey week, spot prices for 304-grade cold-rolled coil (CRC) in the key hubs of Foshan in South China and Wuxi in East China rose by Yuan 200-250/tonne ($29-36/t). On March 25, Mysteel assessed the spot price of 304/2B Hongwang 2mm*1240mm stainless CRC in Wuxi at Yuan 14,500/t, in-warehouse