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|POSCO Keeps Its Domestic Price of SST Sheet for Dec Shipment Unchanged|
According to a source, South Korea's POSCO has notified its customers of its domestic price of stainless steel (SST) sheet for December shipment as unchanged from the previous month. Also, a major Taiwanese mill has lowered its price for December shipment by what is equivalent to $50.|
20,000 tons of sheet products, supposedly from PT Indonesia Tsingshan Stainless Steel (ITSS), arrived in South Korea in October. The breakdown is said to be 12,000 tons of hot-rolled steel coil (HRC) and 8,000 tons of cold-rolled (CR) steel sheet. South Korea's monthly imports of SST sheet is said to be at about 0.1 mil tons. Half of which is from China, but Indonesian products are increasing with abnormal rapidity and now takes up as much as 20%.
Hyundai Steel has been considered as the main buyer on the South Korean side, which has imported HRC, cold-roll it, and supply domestically. In the wake of the all-at-once arrival of a large amount (8,000 tons) of CR, the focus of attention is now on how Hyundai Steel will deal with this situation, rather than POSCO's response.
The nickel (Ni) price at the LME may have hit the bottom. The question now is whether the product prices, which have been on a decline along with the falling Ni price, will also bounce back if and when the LME Ni price reverses its direction. ITSS is acting independent of LME; and thus a rise of the LME Ni price will unlikely change the product prices unless ITSS moves toward a markup, according to the source.
|last modified : Fri 14 Dec, 2018 [10:22]|