WEEKLY: Spot 304 stainless CRC prices in Wuxi rise with firmer futures

Spot prices for 304 stainless cold-rolled coil (CRC) in Wuxi - a key trading hub in East China's Jiangsu province - moved higher during Mysteel's survey week of April 2-8, driven by a firmer futures market, Mysteel Global learned. The survey week included China's Qingming Festival holiday between April 4-6.

As of April 8, Mysteel assessed the 304/2B Hongwang 2*1240mm stainless CRC in Wuxi at Yuan 14,450/tonne ($2,114/t) in-warehouse and including 13% VAT, up Yuan 50/t on week. In the derivatives market, most non-ferrous futures markets recorded gains on April 8 after the Middle East tensions showed signs of easing