WEEKLY: Pre-holiday restocking stabilizes China's 304 stainless CRC market

The decline in Chinese spot prices of 304-grade stainless steel took a pause during the survey week to September 16 and stabilized across key trading hubs of Wuxi and Foshan, as pre-holiday restocking revived buying interest, Mysteel Global learned.

Mysteel assessed the 304/2B Hongwang 2*1240mm cold-rolled coil (CRC) in Wuxi, East China, at Yuan 14,200/tonne ($2,117/t) in-warehouse including VAT on Wednesday, flat from a week earlier, while in the South China hub of Foshan, the same product was also assessed at Yuan 14,200/t. Trading activity picked up during the