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Offer Prices of CR Austenitic Stainless Sheets to Be Lowered $50-100
Negotiations on cold-rolled (CR) austenitic stainless steel sheets in the Asian region have been undertaken for November shipment, and offer prices of them are falling by $50-100 from those for October shipment mainly to the level of $3,350 CFR again. Under the LME nickel price being the level of $6.20 per pound, as each customer takes a wait-and-see attitude and speculative demand does not appear, such situation comes out that each mill is forced to reduce its offer prices.

Taiyuan Iron & Steel of China reduced its domestic prices of CR austenitic stainless sheets by 700 CNY ($113) for October shipment. As the company raised them by 1,500 CNY ($242) for September shipment, the base price rise of 800 CNY ($129) was still left. The Taiwanese mills also lowered their domestic prices by NT$2,000 ($67) for October shipment but they raised their prices by 4,500 CNY ($150) for September shipment, they still maintain part of an increase in the base price for September one. POSCO left its prices unchanged for October shipment. As the company raised its prices by 100,000 won ($93) for September shipment, it is showing a stance to keep the price level.

Although each mill has attempted to maintain its base price, the situation is that each mill is forced to lower its export prices by $50-100 from those for October shipment due to a wait-and-see attitude of customers. In the previous month, the main price was $4,500 CFR but again a major trend in prices is foreseen to become the level of $3,350 CFR. In China, it is said to be the demand season for CR stainless sheets usually toward Christmas but it is depressed this year.
last modified : Wed 09 Oct, 2013 [16:40]
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