WEEKLY: China stainless steel prices dip across most grades

Prices of most stainless steel grades in China moved lower last week, pressured by a combination of softening futures prices, easing production costs, and persistently weak demand, Mysteel Global learned.

As of July 3, Mysteel assessed the price of 304/2B Hongwang 2.0×1240mm stainless cold-rolled coil (CRC) in Wuxi, East China, at Yuan 14,900/tonne ($2,195/t) in-warehouse including 13% VAT, lower by Yuan 50/t from a week earlier. Meanwhile, the most-traded August stainless steel contract on the Shanghai Futures Exchange closed