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Prices of CR Austenitic Stainless Sheets After Anniversary of Founding
= They fluctuate in less movements and level off
Attention is paid to whether prices of cold-rolled (CR) austenitic stainless steel sheets will rise or fall after the Anniversary of the Founding in negotiations in the Asian region starting from this week, and the end of the holiday season comes with less movements in the market.

Before the holiday season, the Chinese major mills carried out price down by 700 CNY ($113), which looks somehow if they were to nip a price rise in the bud. However, the mills' prices resulted in confirmation of the market ones and did not reach to lead the market. Accordingly, those prices did not apply stimulus much to the market prices.

In the export market, the mills raised their prices in late August while they lowered those in late September. As a result, customers have sought the return of the portion of price up.

Even if the mills accept such return, their prices seem not to fall to the level of $2,300 CFR as of July. At present, there are no factors to raise or reduce prices. A source related to a mill is observing that the market will remain stable as it stands until the end of this year.

However, the nickel price is close to the level dipping below $6.00 per pound. Until now, it has not dipped below that level but if it becomes the level of $5.00, it might largely have a psychological impact. Only such impact is concered for the time being.

Meantime, as prices of chrome ore for this quarter shipment were settled with no fluctuations from the previous quarter and do not affect costs of products, prices of CR ferritic stainless steel sheets also have still levelled off.
last modified : Tue 15 Oct, 2013 [16:00]
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