Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi):
20,700-21,000 ($3,284-3,316) per tonne, down by 200-300 yuan per tonne from a week earlier
Stainless CRC prices dropped to 20,700-20,900 yuan per tonne last Thursday on higher supply.
Steel mills had raised their production rates after they were able to secure more electricity supply amid a power crunch in the country, sources said.
But stainless prices went on to rise to 20,900-21,000 yuan per tonne on Friday after nickel futures on the London Metal Exchange surged on Thursday night Beijing time.
The three-month nickel...