Chinese stainless steel scrap prices rebound
2023-04-13 08:17:42 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Domestic stainless steel scrap traders lifted prices tentatively boosted by the prices rebound of raw materials on Wednesday, while end users purchased inactively. The current prevailing prices of 304 casting scrap stand at RMB12,900-13,200/t (USD1,873-1,917/t) D/P, up by RMB100/t (USD15/t) from Tuesday. Insiders foresee flat prices of stainless steel scrap in the coming several days seeing the slow market.
"Suppliers of raw materials remain reluctant to sell as they believe prices of stainless steel scrap should stop decreasing after the decline of about RMB2,500/t (USD363/t) in the past two months, and we found it hard to collect materials this week. Besides, prices of nickel rebounded. Therefore, we raised prices of 304 casting scrap to RMB13,100/t (USD1,902/t) on Wednesday, while could accept RMB13,000/t (USD1,888/t) on Tuesday," disclosed a trader in East China. In the meantime, he pointed out that end users remain inactive in purchasing facing the sudden price rise after the continuous declines in the past two months. "A regular client just purchased 30t of the material at RMB13,100/t (USD1,902/t) on Wednesday, while at least bought 90t at one single time in March," added the trader. Taking the low purchasing activities of downstream customers into consideration, the trader predicts stable prices of stainless steel scrap in the following several days.
Holding around 1,900t of stocks, the trader might sell 1,800t in April, similar to March. Based on the regular sales volume of 2,000t, he recorded the sales volume of around 5,100t in the first quarter of 2023 and 17,000t or so in 2022.
"The most competitive price we got for 304 casting scrap stands at RMB13,000/t (USD1,888/t) right now, and we last bought 27t of the material at RMB12,900/t (USD1,873/t) on Tuesday," noted a consumer in North China. "Orders for final products remain insufficient, and we have to cut prices to promote sales. Even though, we could just receive orders for around 20-day production, while could get orders for one-month production easily early this year," stated the consumer. According to him, March and April act as the traditional peak season, but the sales performance remains unsatisfactory during the period, and thus he shows little confidence in the rest of the year and keeps inactive in purchasing. Given the strong intention of refusing to move down prices from suppliers, the consumer foresees stable prices of stainless steel scrap in the coming several days.
With the monthly consumption capacity of 40t, the consumer would use 30t of stainless steel scrap in April, similar to March. He roughly sold 85t of stainless steel scrap in the first quarter of 2023, against 360t more or less in 2022. The consumer holds around 10t of stocks right now.
"Suppliers of raw materials remain reluctant to sell as they believe prices of stainless steel scrap should stop decreasing after the decline of about RMB2,500/t (USD363/t) in the past two months, and we found it hard to collect materials this week. Besides, prices of nickel rebounded. Therefore, we raised prices of 304 casting scrap to RMB13,100/t (USD1,902/t) on Wednesday, while could accept RMB13,000/t (USD1,888/t) on Tuesday," disclosed a trader in East China. In the meantime, he pointed out that end users remain inactive in purchasing facing the sudden price rise after the continuous declines in the past two months. "A regular client just purchased 30t of the material at RMB13,100/t (USD1,902/t) on Wednesday, while at least bought 90t at one single time in March," added the trader. Taking the low purchasing activities of downstream customers into consideration, the trader predicts stable prices of stainless steel scrap in the following several days.
Holding around 1,900t of stocks, the trader might sell 1,800t in April, similar to March. Based on the regular sales volume of 2,000t, he recorded the sales volume of around 5,100t in the first quarter of 2023 and 17,000t or so in 2022.
"The most competitive price we got for 304 casting scrap stands at RMB13,000/t (USD1,888/t) right now, and we last bought 27t of the material at RMB12,900/t (USD1,873/t) on Tuesday," noted a consumer in North China. "Orders for final products remain insufficient, and we have to cut prices to promote sales. Even though, we could just receive orders for around 20-day production, while could get orders for one-month production easily early this year," stated the consumer. According to him, March and April act as the traditional peak season, but the sales performance remains unsatisfactory during the period, and thus he shows little confidence in the rest of the year and keeps inactive in purchasing. Given the strong intention of refusing to move down prices from suppliers, the consumer foresees stable prices of stainless steel scrap in the coming several days.
With the monthly consumption capacity of 40t, the consumer would use 30t of stainless steel scrap in April, similar to March. He roughly sold 85t of stainless steel scrap in the first quarter of 2023, against 360t more or less in 2022. The consumer holds around 10t of stocks right now.
