MYSTEEL: Is China's stainless price-plunge a retreat, or just a blip?

China's stainless steel futures prices tumbled from their highest level in over two and a half years this week, as both technical and fundamental factors brought an end to a sharp rally, Mysteel Global noted.

On May 14, the most-traded stainless steel contract on the Shanghai Futures Exchange fell to Yuan 14,965/tonne ($2,206/t), down Yuan 815/t or 5% from the recent peak of Yuan 15,835/t reached on May 6, exchange data show. Mirroring this sentiment, on the same day Tsingshan Group, China's largest stainless steelmaker,