Posted on 05 Sep 2025
Prices for 304-grade stainless steel coils continued their upward trajectory across China's major stainless hubs during the week to September 3, with a list price increase from China's top producer proving the key contributor, Mysteel's latest survey suggests.
On September 3, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil (CRC) from dealer and steel processor Hongwang Stainless Steel headquartered in East China's Wuxi at Yuan 13,150/tonne ($1,841/t) in-warehouse and including the 13% VAT, higher by Yuan 50/t from a week earlier.
Meanwhile, on the same day and on the same basis, the spot price of austenitic CRC in Foshan city in South China also stood at Yuan 13,150/t, marking for a sharper gain of Yuan 100/t on week, according to Mysteel's assessment.
In tandem, spot prices for hot-rolled coils (HRC) of the same series also outperformed in both markets, with the in-warehouse prices of 304-grade Tsingshan 5*1520mm stainless HRC in Wuxi and Foshan standing at Yuan 12,700/t including tax as of September 3, higher by Yuan 100/t from the week prior, according to Mysteel's assessment.
On September 2 Tsingshan Group, whose list prices are a key market barometer, had shown a clear endorsement of the ongoing market strength by raising its list prices for buyers of 304-grade CRC and HRC by Yuan 100/t for September sales, Mysteel Global learned.
What's more, rising austenitic prices in the Shanghai derivative market – which strongly correlates with the spot stainless market – also provided a lift to spot prices of 304-grade flat-rolled products during the survey week.
On September 3, the most-traded stainless steel contract on the Shanghai Futures Exchange for October delivery closed the daytime session at Yuan 12,915/t, an advance of Yuan 65/t on week.
Upstream, prices of the feedstock high-grade nickel pig iron (NPI) have held firm recently, also shoring up stainless prices, Mysteel Global noted.
On September 3, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 950/mtu including delivery and tax, flat from the previous week.
Source:Mysteel Global
