WEEKLY: China's Foshan stainless market holds steady as sales surge

Stainless steel prices across all grades in Wuxi, a major Chinese trading hub in Jiangsu province, continued to decline between October 25 and November 1, particularly for 304-grade stainless coils. Meanwhile, Foshan, another key hub in South China, exhibited greater price stability during the same period.

As of November 1, the price of Hongwang's 304-grade stainless cold-rolled coil (CRC) in Wuxi was assessed by Mysteel at Yuan 13,600/tonne ($1,917.3/t), in-warehouse and including 13% VAT. This represents a decrease of Yuan 100/t compared to the previous week. The stainless derivatives market reflected a similar downward trend, with the