WEEKLY: China's 304 stainless steel prices advance

Prices of China's 304-grade stainless steel coils climbed in the week of July 10-16 as a price hike by China's largest stainless steel producer, in tandem with gains in stainless steel futures contract prices in Shanghai, bolstered the market, Mysteel Global noted.

On July 16, Mysteel assessed the price of 304-grade stainless cold-rolled coil (CRC) in Wuxi, East China at Yuan 12,750/tonne ($1,776/t) in-warehouse and including tax, up by Yuan 50/t from a week earlier. Meanwhile, the assessed price of the same grade stainless hot-rolled coil (HRC) in the city stood