WEEKLY: China stainless CRC prices diverge across grades

China's domestic spot prices of stainless cold-rolled coil (CRC) diverged by grade last week. Austenitic CRC prices extended their decline, while 200- and 400-series prices held firm.

On September 11, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless CRC in Wuxi at Yuan 14,200/tonne ($2,117/t) in-warehouse including 13% VAT, down Yuan 100/t from a week earlier. The decline in 300-series prices was driven by weak sentiment, sluggish demand and falling costs, Mysteel Global observes. The