WEEKLY: China's 304 stainless CRC prices rebound on strong futures

Spot prices for 304-grade stainless cold-rolled coil (CRC) rebounded sharply across China's key trading hubs of Wuxi and Foshan over Mysteel's June 11-17 survey week, closely tracking the surge in Shanghai futures prices.

As of June 17, Mysteel assessed the price of 304/2B Hongwang 2.0×1240mm stainless CRC in Wuxi, East China, at Yuan 15,200/tonne ($2,249/t) in-warehouse including 13% VAT, higher by Yuan 300/t on week. On the same day, the most-traded stainless steel August contract on the Shanghai Futures Exchange closed the