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Japanese Offers At $2,500 FOB Level In Ni-Based Stainless Exports
Chances are Japan's stainless steel producers will offer price increases of US$150-200/ton to around US$2,500/ton FOB in their export deals of nickel-based CR sheets for Asian destinations, mainly for China, market sources believe.

The Japanese steelmakers are expected to start their export negotiations next week on August shipments. It is understood that they are contemplating negotiating what they export this time at a price level of at least US$2,450/ton FOB.

At present, the Japanese steelmakers have enhanced inquiries from China and elsewhere, a situation that has brought back a normal level of inquiries until now. But there are signs that some inquiries are aimed at purchases to replenish stocks of bought-in materials, which could lead to a sudden fall of inquiries once necessary purchases finish. Therefore, the Japanese steelmakers admit that it is uncertain whether inquired quantities stem from actual demand.

As to China's domestic prices of Ni-based stainless CR sheets, Taiyuan Iron & Steel Group Co (Tisco) has raised its sales price by Yn1,350/ton (US$199) this week to Yn19,770/ton (US$2,907) after tax. Tisco executed a price increase of Yn300/ton (US$44) last week as well. With the price increase this week, the company's cumulative price increase has hit Yn4,350/ton (US$640) in nearly two months, compared with a low of Yn15,420/ton (US$2,267) after tax as of March 31 in the asking price.

In this connection, the Wuxi stainless steel market for Ni-based CR sheets has advanced to Yn19,300/ton (US$2,838) so far as if to meet Tisco's weekly price increase. In the Wuxi area, stocks of Ni-based stainless steel products totaled 130,000 tons as of May 27, up from 116,000 tons in the month before. Stocks of Ni-based CR sheets, though, changed little in the April-May period. They totaled 69,000 tons in April and 70,000 tons in May.

As far as Taiwan's stainless steel producers are concerned, they have increased domestic sales prices of Ni-based CR sheets by NT$2,000/ton (US$60) to NT$72,500/ton (US$2,197) for June shipments. But Taiwan's current domestic prices still amount to a "cave-in" level in Asia as a whole. In export deals, meanwhile, the Taiwanese stainless steel producers are said to be conducting their negotiations, seeking price increases of US$150-200/ton, for shipments to China and elsewhere. Their offer prices are estimated at a level of US$2,300-2,400/ton FOB, according to market sources.
last modified : Wed 10 Jun, 2009 [10:28]
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