WEEKLY: China's 304 stainless CRC prices fall in key hubs

Spot prices for 304-grade stainless cold-rolled coil (CRC) fell across China's key stainless hubs during Mysteel's July 9-15 survey week, a decline that was triggered by Tsingshan Group's price cuts and softer nickel pig iron (NPI) costs.

On July 15, Mysteel assessed the price of 304/2B Hongwang 2.0×1240mm stainless CRC in Wuxi, East China, at Yuan 14,800/tonne ($2,187/t) in-warehouse including 13% VAT, lower by Yuan 150/t on week. A few days earlier on July 9, China's largest stainless producer Tsingshan had cut its list prices for 304-grade