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|Prices of CR Austenitic Stainless Sheets in Asia to Edge below $2,600 CFR|
The export market of cold-rolled (CR) austenitic stainless steel sheets is still depressed in the Asian region, and its prices are receding to $2,600 CFR. It is pointed out of possibility for some offer prices to have fallen to the level of $2,500 CFR. As the Japanese mills are difficult to follow such prices any more, they are in a state to maintain a wait-and-see attitude.|
Usually, it is the demand season for CR austenitic stainless sheets in April through June in the northern hemisphere. Negotiations are supposed to become the peak in April. However, those do not get moving in any country this year, and prices remain in the downward tendency. Under the situation, those who are concerned about prices of CR austenitic stainless sheets in the off demand season of next quarter (July-September) are increasing.
In Europe, Aperam and Autokumpu reduced their nickel surcharge by 42 EUR. In the USA as well, Allegheny Technologies decreased it by 4.15 cents per pound. It becomes about $100 decrease per ton. All are to have decreased it responding to rollback of a nickel price to the level of $7.60 per pound. As the current nickel price drops to the level of $7.30, further reduction of the surcharge is expected in future.
While, as the European mills raised their base prices, total prices are left unchanged virtually offsetting price up of the surcharge. In the USA as well, as the base price was increased by $75, prices are not dropping so much actually due to offsetting of it. As they are in a shape to maintain levelling off of their prices eventually, demand does not almost show the upsurge.
In Asia as well, the market is depressed. Taiyuan Iron & Steel of China decreased its prices of CR austenitic stainless sheets by 1,000 CNY ($159) to 18,800 CNY ($2,984 including tax) for April shipment. The company reduced its prices by 1,300 CNY in January through March and still has a room to decrease its prices by 300 CNY. The company is expected to set out its May prices soon, and it is certain for it to reduce its prices.
The market of CR austenitic stainless sheets is sluggish worldwide. Production of Baoshan Iron & Steel is ordinarily 120 thousand tons a month but its production in March is said to have fallen below 100 thousand tons. As next quarter is the off demand season, it is likely to enter the uneasy season both for production and prices.
|last modified : Fri 19 Apr, 2013 [11:39]|