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

China's spot prices for 300-series cold-rolled stainless steel diverged in the country's two key hubs of Wuxi and Foshan during Mysteel's survey week to August 12. Wuxi prices held stable on the back of firm futures prices, while Foshan prices softened due to lower production costs and persistently subdued demand.

On August 12, Mysteel assessed the price of 304/2B Hongwang 2.0×1240mm stainless cold-rolled coil (CRC) in Wuxi at Yuan 14,800/tonne ($2,195/t) in-warehouse including 13% VAT, on par with a week earlier. Stainless derivative prices on the Shanghai Futures Exchange gained ground during the survey week. The most-traded SHFE stainless contract