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Prices of CR Austenitic Stainless Sheets
= They become an environment to be able to expect $2,500 CFR
Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region have shown a sign to recover rapidly. Those were lowered for a short time to the level of $2,250 CFR but the mills' offer prices are rising to the level of $2,400 CFR. It contributes largely to it that the LME nickel price exceeded $6.60 per pound. The Chinese, Korean and Taiwanese mills of CR stainless sheets are expected to set out their domestic prices for November shipment as early as next week, and it is almost certain for them to raise their prices.

At present, prices of CR austenitic stainless sheets in Taiwan have shown a steady change. In Taiwan, the authorities have commenced in August this year an antidumping (AD) investigation on CR austenitic stainless sheets against China and Korea. Although those prices are falling by $150 or so in the Asian region, for above reason, only in Taiwan, they remain unchanged from those before filing of an AD case as export from both countries stopped. Inquiries are also sent to Japan from Taiwan.

Inquiries of CR austenitic stainless sheets to Japan are increasing from the European region more than from the Asian region. Bid prices of them seem to be about $2,600 FOB. They are higher by $200 than those from Asia.

In the backdrop of increase of inquiries from Europe, it is said that there are a price recovery of nickel, the weak EUR against the dollar, start of replenishment of inventory by customers having hesitated to hold inventory before which see the current prices as a bottom, and so on. Both of the European and US mills set out an increase in base prices in August and October this year. In Europe, they raised their prices by 50 EUR in August and 50 EUR in October. It is said that such price increase in August penetrated the market while that in October is now under negotiations. If it is accepted, prices of CR austenitic stainless sheets will rise further. In the USA as well, they set out an increase in base prices by $75 in August and $75 in October. Such price increase in August is reported to have been accepted while on that in October, pessimistic information is said to be spreading.

Anyhow, the prospects look more hopeful in the market of CR stainless sheets caused by a price rise of nickel. Export to Europe is likely to become active for the time being.
last modified : Thu 31 Oct, 2013 [15:52]
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