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China's 304 stainless prices up on futures, lower stocks

ABSTRACT

Over December 21-28, the spot prices of China's 304-grade stainless steel under Mysteel's survey increased further, market sources cited the rise in stainless futures prices and shrinking stocks held by traders.
As of December 28, the spot price of 304/2B 2mm stainless cold-rolled coil in Wuxi, a major stainless trading hub in East China's Jiangsu province, climbed to Yuan 18,000/tonne ($2,826/t) in-warehouse and including the 13% VAT, up Yuan 300/t on week, according to Mysteel's survey.   On the same day, the spot price of stainless

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