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Market Prices of Austenitic Stainless Sheets Rise As Much As $240 in China
In the Chinese market, prices of austenitic stainless steel sheets rapidly rose in the past 2 to 3 weeks. In dollar equivalent, those prices are said to have risen by $240 per ton. It is reported that with a rise in prices of austenitic stainless sheets, prices of ferritic stainless steel sheets also rode by $140 or so.

As a result of a steep rise in prices in China, Chinese mills withdrew their export offers in succession. Their offer prices of hot-rolled austenitic stainless steel coils fell by $500 from higher prices to $1,550 CFR once but are likely to be revised by $150 or so to around $1,700 CFR.

A source is under analysis of a factor of a surge in prices, which is unable to be identified yet. However, according to the source, it is pointed out that Chinese leading mills have turned prices around being aware of too much fall in prices and distributors are purchasing products of devoid sizes caused by production curtailment.

The nickel price came close to dipping below $4 at one point in time but prices of products have continued to rise. It is usual that prices of austenitic stainless products move in tandem with the nickel prices but such phenomenon did not happen this time. As of 13th, the nickel price is rebounding. Therefore, attention is paid to whether product prices continue to rise.

The Japanese mills of austenitic stainless sheets have continued a wait-and-see stance. As the balance of domestic supply-demand of stainless sheets is tightened, they supply products preferentially to the domestic market reducing export quantity. Under the situation, they are unnecessary to export products even cutting their prices.

As in the export market of the Asian region, prices of stainless sheets dropped, those prices in the Japanese market have remained at a high level. Japan's import quantity from Korea was 21 thousand tons in May, up 73.0% from the previous month and also up 63.5% from the same month last year, about which the Japanese mills are cautious.
last modified : Fri 21 Jul, 2017 [09:56]
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