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| Rising Prices In Asian Deals For Ni-Based Stainless CR Sheets |
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Stainless steel deals for nickel-based CR sheets show rising prices in Asia, centering on China, after a major change in the course of things there, according to market sources. For their part, Japan's stainless steel producers have offered a price increase of US$200/ton each in their negotiations to export Ni-based CR sheets for March shipment. Most of their offers stand at a level of US$2,300/ton C&F for the 2B product. They have already clinched the first half of the price increase. As a result, they are in the process of studying whether to execute the whole price increase at a single stroke. In this connection, existing inquiries to the Japanese steelmakers indicate bids to accept a price increase of US$100/ton. They even see users who are willing to accept a price increase of US$200/ton in spot deals. The orders placed with the Japanese steelmakers so far are viewed as linked up with actual demand in certain destinations. In China, meanwhile, Ningbo Baoxin Stainless Steel Co announced a price increase of Yn1,000/ton (a level of US$124/ton) this week in its domestic sales of Ni-based CR sheets for February shipment as in the case of sales for January shipment. The company's price increase for two consecutive months amounts to what could completely change an atmosphere of stagnancy that has predominated until now. Almost all the stainless steel producers across Asia have fallen into the red since the latter half of 2005, a tough environment that requires a 5% cutback in production even from China's major manufacturers. Then, the world's nickel prices turned up, and various stainless steel producers in Asia had no option but to avoid low-priced sales in favor of separate price increases for Ni-based CR sheets. Japan's stainless steel companies, too, opted to mark time and stopped offers of exports to China and elsewhere between yearend 2005 and the third week of January 2006. Among's major stainless steel manufacturers, Taiyuan Iron & Steel Group Co announced domestic price increases of Yn300-500/ton (US$37-62) in early January for January-February shipment. Then, Ningbo Baoxin Stainless Steel Co reported a domestic price increase of Yn1,000/ton this week for February shipment. |
| last modified : Mon 30 Jan, 2006 [11:36] |
