WEEKLY: Sluggish demand crimps China 304 stainless prices

China's spot prices for cold-rolled 304-grade stainless steel declined during the Mysteel survey period over October 22-28, weighed down by falling Shanghai stainless futures and slack trading.

On October 28, Mysteel assessed the 304/2B Hongwang 2*1240mm cold-rolled coil (CRC) in Wuxi, East China, at Yuan 13,900/tonne ($2,085/t) in-warehouse and including the 13% VAT, down Yuan 100/t from a week earlier. On the same day, the most-traded stainless steel contract on the Shanghai Futures Exchange for December