WEEKLY: China's 304 stainless steel prices plunge to multi-year lows

China's 304-grade stainless steel market has sunk to its lowest point in four years, with prices for both cold-rolled coil (CRC) and hot-rolled coil (HRC) hitting multi-year lows as of November 27, Mysteel reports.

In Wuxi, one of China's major stainless trading hubs in East Jiangsu, the price of Hongwang's 304-grade CRC had dropped to Yuan 13,200/tonne ($1,819.3/t) in-warehouse, including 13% VAT as of Wednesday, a four-year low and a decrease of Yuan 200/t from the previous week. Similarly, as of the same day, 304-grade