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China's Market Prices of Austenitic Stainless Sheets Rise by over $150
According to a source, prices of austenitic stainless steel sheets in the Chinese market rapidly rose in a short time. In the Wuxi market, prices of cold-rolled (CR) austenitic stainless sheets rose from 12,200 CNY ($1,770, including tax, thereinafter the same) to 13,200 CNY ($1,916) from the 2 weeks before through the previous week, which rose as much as $150 in dollar equivalent. Responding to it, Chinese mills' offer prices of CR austenitic stainless sheets were raised by $150-200 but a case of conclusion of a contract is not heard.

Against a backdrop of a sharp increase in prices of CR austenitic ones in the Chinese market, such facts are mentioned that the nickel price has returned to the level of $4 per pound, inventory of coil centers becomes low due to production curtailment by Chinese mills, and so on.

Since April, prices of CR austenitic ones had fallen by $800 or so, and of these, around $150 were recovered this time. However, customers of each country have continued to wait and see, and it is uncertain to what extent such rapid rise in prices will spread to the export market.

The Japanese mills are not competitive to such extent of a price recovery and will be difficult to return to the export market. They will continue a wait-and-see stance. At present, prices are high only in the Japanese market. It is because of brisk domestic demand, and as there is a substantial difference in prices from the overseas market, inflow to Japan is worried. Meantime, at present, such movement of Korean and Chinese mills are unlikely to be found.

While, the chrome price in China has risen to 90 cents from the level of 70 cents per pound. As the Japanese mills use higher price of 162 cents of chrome, they are in a state to be unable to proceed with negotiations. In addition that they are unable to pass a price hike of raw materials on to their product prices, as a fall in prices of products is seen to go into full swing from now on, they are also in a difficult environment for ferritic stainless steel sheets.
last modified : Fri 30 Jun, 2017 [09:44]
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