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Prices Of CR Austenitic Stainless Sheets In East Asia Region
= To await the next step after Chinese New Year at $2,850 CFR
In the market of cold-rolled (CR) austenitic stainless steel sheets in the East Asia region, Korea's POSCO, Taiwan's YUSCO and so on offered their prices at $2,750 CFR and settled at $2,700 CFR for January shipment. Those prices rose by about $100 compared to prices in November last year. While, the Japanese mills are offering their prices at $2,900 CFR and are proceeding with contracts at $2,850 CFR. Even if the price difference from those of Korea and Taiwan is $100, there are many customers to choose the Japanese products.

Compared with an ordinary year, negotiations of this time before the Chinese New Year did not show an upsurge. It is because a surge in demand toward the Chinese New Year was scarce. Price hike of material nickel beyond expectation contributed largely to a reason having lacked such upsurge. As the nickel price came close to $8 per pound, the stainless steel mills offered price increase all together but that price did not exceed $8 in January, stayed at the level of $7 and did not move so much. With this, each customer continued to keep a wait-and-see stance, and there was no movement for coil processing centers and so on to accumulate inventory.

And, when the Chinese New Year falls into the middle of February, purchasing activities are said to be deferred. Such an atmosphere is increasing that negotiations before the Chinese New Year already ended and are to wait for after the New Year.

POSCO, YUSCO and so on are foreseen to notice this week their domestic prices of CR stainless sheets for February shipment. As the nickel price is levelling off, there is a possibility for those prices to be left unchanged for January shipment. Taiyuan Iron & Steel (TISCO) of China raised its domestic prices by 500 CNY ($16) for February shipment.

The price movement of austenitic ones is few while that of ferritic ones are in a mood of price rise. TISCO raised its domestic prices of ferritic ones by 500 CNY for February shipment the same as those of austenitic ones. Its price increase of ferritic ones was for the first time in 4 months. Seen from its price increase of the previous time having been only 100 CNY ($16), price increase of this time is substantial.

Prices of ferritic ones had been sluggish at $1,400 to 1,500 CFR for a long time. However, as prices of ordinary steel are recently increasing, strong indications of ferritic prices are growing to rise being led by them. In the USA, they were increased by $12 as the chromium surcharge. The Japanese mills of ferritic stainless are proceeding with negotiations to offer price increase by $80.
last modified : Mon 04 Feb, 2013 [11:58]
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