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|Japan's Offer Prices of CR Ferritic Stainless Sheets for Asia|
|= They were raised additionally by $70 in May shipment|
The Japanese mills of cold-rolled (CR) ferritic stainless steel sheets recently carried out additional increase of offer prices by $70 for May shipment in negotiations on CR ferritic stainless sheets for Asia. As they increased their offer prices by $100 to 150, tacking on $70 in May, those prices are to be raised by $170 to 220 for two months. However, as against such price increase in April, settled price increase was $20 to 30, negotiations of this time are likely to become so tough.|
The reason why the Japanese stainless steel mills are to raise their prices of CR ferritic stainless sheets from May shipment is because in negotiations on ferrochrome for shipment of this quarter (April-June) with the South African ferrochrome suppliers, its price was settled at 14.5 cents, up 12% from the previous quarter. Its new price becomes 135 cents/LB Cr CIF, and its price hike is equivalent to $70 increase on CR product basis. Due to necessity to pass such price hike on to products soon, they took a step to raise their offer prices in May shipment.
In this occasion of increase in ferrochrome price, among the European mills which accepted increase by 14.50 cents prior to Japan, Aperam and Outokumpu raised their ferrochrome surcharges by 3 EUR and 9 EUR respectively. As both companies were said to raise their prices by 20 EUR for March shipment, they were to have raised further.
Meantime, price increase by the Japanese mills for April shipment was to absorb price increase of raw materials for a blast furnace like iron ore. As prices of ordinary steel products like hot-rolled steel coils rose by about $100 in January through March, the CR ferritic stainless steel mills followed it.
|last modified : Thu 18 Apr, 2013 [10:50]|