WEEKLY: China stainless steel prices diverge across grades

China's spot prices for 300-series stainless steel fell last week as lower production costs undermined price support, while those for 200- and 400-series remained stable, according to Mysteel's most recent survey results.

On June 12, Mysteel assessed 304/2B Hongwang 2×1240mm stainless cold-rolled coil (CRC) in Wuxi, a key stainless hub in East China, at Yuan 15,000/tonne ($2,215/t) in-warehouse including 13% VAT, down Yuan 50/t from a week earlier. Production costs fell in line with prices of ferrochrome – a key raw material