WEEKLY: China's stainless prices hold firm

China's spot prices for stainless steel products held firm over Mysteel's April 30-May 9 survey week, as market participants were still considering Indonesia's planned nickel export taxes and the implications for stainless. During the survey week, which also included China's May Day holiday between May 1-5, prices for 200- and 400-series stainless moved higher while 300-series remained flat.

On May 9, a substitute workday in China for the holiday, Mysteel assessed the price of 304/2B Hongwang 2×1240mm stainless cold-rolled coil (CRC) in East China's Wuxi at Yuan 15,500/tonne ($2,279/t) in-warehouse, including 13% VAT, flat from April 30, the last working day before the break. The Indonesian government had