Strong futures fail to boost China 304 stainless prices

ABSTRACT
Stainless futures prices on the Shanghai Futures Exchange (SHFE) have performed strongly recently, but the robust derivatives market has done little to boost Chinese prices of 304-grade stainless steel, Mysteel's data showed. Also, the weak stainless demand contributed little towards bolstering spot prices, according to market sources.

As of November 29, the spot price of 304/2B 2mm stainless cold-rolled coil in Wuxi, a major stainless trading hub in East China's Jiangsu province, remained stable on week at Yuan 17,200/tonne ($2,404.6/t), Mysteel's survey showed. By the same day, the spot price of 304/No.1 5mm stainless hot-rolled coil also in Wuxi was at Yuan