WEEKLY: Trends in China's stainless prices diverge

Stainless steel spot prices in Wuxi, a key stainless trading hub in East China, were mixed during Mysteel's survey week of April 20-24, with those of the dominant 300-series posting gains and tracking firmer Shanghai futures prices.

On April 24, Mysteel assessed the price of 304/2B Hongwang stainless cold-rolled coil (CRC) in Wuxi at Yuan 15,000/tonne ($2,194/t), up Yuan 100/t week-on-week. Market concerns over tighter nickel supplies from Indonesia intensified during the week as PT Weda Bay Nickel (PT WBN) – the joint venture between Eramet, Tsingshan