WEEKLY: China 304 stainless prices maintain bullish run

China's spot prices for 304-grade stainless steel extended their bull run during Mysteel's April 30-May 6 survey week, driven by renewed policy signals from Indonesia and strong futures gains. The survey week included China's May Day holiday from May 1-5.

On May 6, Mysteel assessed the price of 304/2B Hongwang 2×1240mm stainless cold-rolled coil (CRC) in East China's Wuxi at Yuan 15,700/tonne ($2,305/t) in-warehouse, including 13% VAT, higher by Yuan 250/t on week. Two days earlier, the Indonesian government had reiterated on May 4 that it plans to soon finalize export