Posted on 30 Dec 2025
Spot prices of most stainless steel grades in China gained ground last week, according to Mysteel's latest survey results. This upward movement, especially for 300-series stainless, was driven by surging futures prices in Shanghai and prevailing bullishness in the market, survey respondents said.
For 200-series products, prices increased in tandem with rising raw material costs as stainless makers responded to higher prices of nickel pig iron, with Mysteel assessing the price of 201/J2-grade cold-rolled coil (CRC) in East China's Wuxi on December 26 at Yuan 7,300/tonne ($1,039/t) in-warehouse and including the 13% VAT, up Yuan 50/t on week.
Similarly, spot prices for 304-grade stainless steel rose on the back of a significant rally in stainless steel futures prices on the Shanghai Futures Exchange (SHFE). Last Friday the most-traded stainless contract for February delivery closed the daytime session at Yuan 12,955/t, sharply higher by Yuan 235/t on week. On December 26, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless CRC in Wuxi at Yuan 13,050/t in-warehouse and including the 13% VAT, up Yuan 150/t on week.
In contrast, 400-series spot prices remained stable throughout the week, as trading activity was lacklustre. As of December 26, the spot price of 430/2B 2mm stainless CRC in Wuxi was Yuan 7,500/t on the same basis, flat on week, according to Mysteel's data.
Trading for 200- and 300-series products was relatively hectic last week, a dynamic that helped reduce domestic inventories. Mysteel's survey of stocks stored in the 89 warehouses across six major Chinese cities that are regularly monitored showed that as of December 25, total stainless inventories stood at around 1 million tonnes, lower by a notable 3.6% from the previous week.
Looking ahead, market participants expect stainless prices to move sideways in the short term. A Wuxi-based analyst projected that 304-grade CRC prices are likely to trade between Yuan 12,900-13,200/t between December 29-31 leading up to the New Year holiday over January 1-3. He based this on steadily falling supply offered for sale by market leader Tsingshan Group, coupled with agents and traders holding back cargoes.
Source:Mysteel
