WEEKLY: China's 304-grade stainless CRC gains steam on strong futures

Spot prices for 304-grade stainless cold-rolled coil (CRC) posted rises across the key stainless trading hubs of Foshan in South China and Wuxi in East China during Mysteel's survey week of April 9-15, mainly tracking the strong performance of stainless futures amid Indonesia's new pricing formula for nickel ore, Mysteel Global learned.

As of April 15, Mysteel assessed the 304/2B Hongwang 2*1240mm stainless CRC in Wuxi at Yuan 14,700/tonne ($2,156/t) in-warehouse and including 13% VAT, up Yuan 250/t on week, while the price for the same product in Foshan stood at Yuan 14,800/t, marking a sharp rise of Yuan 300/t from