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|China's Prices of CR Stainless Steel Sheets on Downward Trend|
|= With the year end imminent =|
According to a source, China's market prices of stainless steel flat products are likely to be on an downward trend with the year end imminent. As it falls on the end of the financial year in December, distributors desire to reduce inventories as low as possible. For this reason, selling to raise cash begins to appear.|
Chinese mills' export prices of cold-rolled (CR) austenitic stainless steel sheets have not changed at $2,000-2,100 CFR for December shipment. However, distributors are said to be offer prices of CR austenitic stainless sheets to Korea at $1,900-2,000 CFR. In Korea, POSCO set out an increase in domestic prices of austenitic stainless sheets by 100,000 won ($90) for November shipment but it is subtle whether such price increase has been accepted due to no strong domestic demand for stainless sheets.
In China, prices of ferritic stainless steel sheets are likely to be also falling. China's chrome prices to purchase on spot basis had previously exceeded Japan's benchmark price (147 cents) but have lately dipped below that of Japan. Therefore, prices of ferritic ones are said to be falling.
As there are less factors that the LME nickel prices collapse due to the development of demand for nickel used for electric vehicles. Meantime, as far as the use for ferronickel is concerned, it can be said to be in a good environment at the current level in prices.
Meantime, there is a view as a factor of weakened prices of stainless steel in China that Qingshan Iron & Steel in Indonesia has begun to export pickled austenitic stainless sheets to China from November. The monthly production capacity of as-rolled products of that company is 150 thousand tons. Almost all of its production quantity of hot-rolled stainless steel coils and stainless sheets as rolled are reported to be for China. Consequently, there is no information on a fall in prices in the Asian region except China by Qingshan.
|last modified : Mon 20 Nov, 2017 [10:42]|