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|Prices of CR Austenitic Stainless Sheets Drop Back to $2,600 CFR Level|
Export prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region drop back to $2,600 to 2,650 CFR which was the level in October-December last year. As the LME nickel price dropped from the level of $8 to that of $7.50, prices of CR austenitic stainless sheets fell in March. From now on, the domestic prices for April shipment are announced by the Chinese, Korean and Taiwanese mills, and attention is paid whether the export market is dragged down by price down of those mills which is probable.|
The surcharges of the US and European mills were lowered for April shipment. With drop of the nickel price, they adjusted their prices linked to the nickel price. The US mills reduced their prices by $91 per ton, and the European mills also did by 42 EUR ($60).
Taiyuan Iron & Steel (TISCO) of China is foreseen to cut its prices in April shipment. The company raised its prices by 1,300 CNY ($206) in total in January through March this year with price rise of nickel. As a result, its present list price is 19,800 CNY ($3,143 including tax) per ton to SUS304. As the nickel prices returned the level of November last year, its price is certain to be reduced but it subtle whether the company passes all price rises of nickel from the beginning of this year on to its products.
The Taiwanese mills left their prices unchanged for March shipment but as their prices link to the nickel price, it is certain for them to raise their prices. While, POSCO has adjusted its discount range without change of its list prices. The company is likely to expand its discount range this time as well but it is uncertain to what extent the company will expand it.
Anyway, the market of CR austenitic stainless sheets is sluggish. Considering that the nickel price does not dip below $7.40, it is also thought for that bottom to be solidified. Negotiations are in a feeling to be made nervously, and the number of inquires are few.
Against this, bid prices of CR ferritic stainless sheets are rising by $20 to 30, and a mood of price rise is induced. As prices of hot-rolled steel coils among ordinary steel products rose by $100 till now, negotiations on ferritic ones have been undertaken with increase of $100 for April shipment. TISCO raised its domestic prices by 500 CNY ($79) for March shipment and seems to aim penetration of full amount of its price increase. The Japanese mills also show a stance to raise their prices for both domestic and overseas markets. Any mills are passing over cheap bid prices at present.
|last modified : Fri 29 Mar, 2013 [10:18]|