WEEKLY: China 304 stainless prices in Wuxi dip as futures weaken, cost support eases

Spot prices for 304-grade stainless cold-rolled coil (CRC) in Wuxi - a key stainless steel trading hub in East China's Jiangsu province - edged down during March 26-April 1, pressured by a combination of weakening futures, softening cost support and subdued trading activity, Mysteel Global learned.

The spot price of 304/2B Hongwang 2*1240mm stainless CRC in Wuxi was assessed by Mysteel at Yuan 14,450/t ($2,103/t) in-warehouse and including the 13% VAT as of April 1, lower by Yuan 50/t from a week prior. The weakening of stainless futures weighed on spot sentiment in the survey week,