WEEKLY: Wuxi stainless CRC prices hold firm

Spot prices of stainless cold-rolled coil (CRC) in Wuxi, East China's major stainless trading hub, remained firm across all series last week, underpinned by support from the derivatives market and Tsingshan Group rolling over its list prices, Mysteel's survey showed.

Mysteel assessed the price of 304/2B Hongwang 2.0×1240mm stainless CRC in Wuxi at Yuan 14,800/tonne ($2,193/t) in-warehouse including 13% VAT on August 7, flat from a week earlier. In the derivatives market, the most-traded stainless steel contract on the Shanghai Futures Exchange closed the daytime session at Yuan 14,665/t last