WEEKLY: China's stainless market struggles on weakening fundamentals

The Chinese stainless steel market experienced further deterioration in fundamentals during the week of November 29 to December 6, adding additional downward pressure on prices, especially for austenitic stainless flats, according to Mysteel Global.

As of December 6, Mysteel assessed the price of Hongwang's 304-grade stainless cold-rolled coil (CRC) in Wuxi, a key stainless steel trading hub in East China's Jiangsu province, at Yuan 13,100/tonne ($1,800/t) in-warehouse, including VAT, down by Yuan 100/t from the previous week. Similarly, the stainless steel futures market also