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China 304 stainless costs buoyed by futures

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As of October 18, the place rate of 304/2B 2mm stainless cold-rolled coil ( CRC) in Wuxi, a significant stainless trading hub in East China's Jiangsu, had actually increased to Yuan 17,700/ tonne ($ 2,449/ t) for an on-week gain of Yuan 300/t, according to Mysteel's survey. In parallel, the place price of 304/No.1 5mm stainless hot-rolled coil (HRC) also in Wuxi, had.

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Stainless suppliers raised their prices of 304-grade stainless steel during October 11-18, encouraged by strong stainless futures on the Shanghai Futures Exchange (SHFE) and by some restocking demand among stainless users, according to market sources...

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