WEEKLY: China stainless steel market weakens

China's spot stainless steel market functioned on a weak note over the past week, weighed down by sluggish end-user demand and rising inventories. Still, performance across different series diverged noticeably.

Prices of the 300-series held steady, as recent persistent declines had run their course. On August 28, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil (CRC) in Wuxi, East China, at Yuan 14,500/tonne ($2,156/t) in-warehouse and including the 13% VAT, flat from one week earlier. Meanwhile,