WEEKLY: Wuxi 304-grade stainless CRC prices rise on strong futures, cost support

China's 304-grade stainless cold-rolled coil (CRC) prices in Wuxi, a key trading hub in East China, moved higher during Mysteel's April 16-22 survey week, buoyed by a rally in stainless steel futures and firming production costs.

On April 22, Mysteel assessed the price of 304/2B Hongwang 2*1240mm stainless CRC in Wuxi at Yuan 14,850/tonne ($2,176/t) in-warehouse and including 13% VAT, up Yuan 150/t on week. On the same day, the most-traded stainless contract on the Shanghai Futures Exchange closed the daytime session at Yuan 14,860/t,