WEEKLY: China's stainless steel prices diverge across series

China's spot stainless steel prices delivered divergent trends across different series last week, with the prices of 300-series advancing on the back of firmer costs and a futures rally, while the 200- and 400-series softened amid muted end-user buying.

On July 17, 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 ($2,200/t) in-warehouse including 13% VAT, higher by Yuan 100/t from a week earlier. In the derivatives market, the most-traded stainless steel contract on the Shanghai Futures Exchange closed the