WEEKLY: China's 304 stainless CRC prices climb in major markets

Spot prices for 304-grade stainless cold-rolled coil (CRC) moved higher in China's major stainless hubs over Mysteel's survey week to July 22. The rise was supported by a firmer futures market in Shanghai and a price hike from leading mill Tsingshan Group, the survey results show.

On July 22, Mysteel assessed the price of 304/2B Hongwang 2.0×1240mm stainless CRC in Wuxi, East China, at Yuan 14,900/tonne ($2,200/t) in-warehouse including 13% VAT, higher by Yuan 100/t on week. In the derivatives market, the most-traded September stainless steel contract on the Shanghai Futures Exchange (SHFE) closed Wednesday's daytime