Chinese 304 grade stainless CRC prices rise again
2016-10-25 08:52:51 [Print]
BEIJING (Asian Metal) 25 Oct 16 - Chinese 304 grade stainless CRC prices witness an upward trend at present mainly because of increase in steel mills’ list prices. Current mainstream market prices of 304/2B 2.0mm*1,219mm*C are about RMB14,050/t (USD2,074/t) VAT included in Wuxi, Jiangsu province. However, seeing customers cannot accept the continuous price increase and the market sales performance remains bad, insiders do not expect the price to go up further in the following days.
A Wuxi-based distributor of 304 grade stainless CRC with a trading volume of around 50,000t in 2015 told Asian Metal that the price is rising for the time being. His price for 304/2B 2.0mm*1,219mm*C from JISCO is RMB14,050/t (USD2,074/t) VAT included, up by RM250/t (USD37/t) compared with that of the previous trading day.
The source attributes the price increase to higher purchase cost. According to him, JISCO raised the list price of 304/2B 2.0mm*1,219mm*C by RMB300/t (USD44/t) to RMB13,900/t (USD2,052/t) VAT included for last week. However, seeing the sharp price increase, customers without urgent need for materials are still holding a wait-and-see attitude now and refuse to place orders. His current sales volume is less than 50tpd against that of about 3,000t for last month. With an inventory of around 1,000t in hand now, the source does not think the price will move up further in the coming days.
Another trader in Foshan, Guangdong province confirmed the price increase. His price for 304/2B 2.0mm*1,219mm*C from Taigang Stainless is RMB14,350/t (USD2,119/t) VAT included, RMB200/t (USD30/t) higher than that of the previous trading day.
The source has increased his prices by a total of RMB750/t (USD111/t) in the recent week. Nevertheless, many customers cannot accept the sharp price increase and his sales performance is quite poor at the moment. “Nobody expected the price would rise so quickly this month,” he said, adding that his current sales volume is below 30tpd against that of around 2,000t in September. The source believes the price will be stable in the next few days and his current stockpile is about 500t.
A traders in Hangzhou, Zhejiang province also reported to Asian Metal that his price for 304/2B 2.0mm*1,219mm*C from JISCO is RMB14,300/t (USD2,111/t), rising by RMB200/t (USD30/t) compared with that of last trading day.
The source followed other traders to lift his prices by about RMB1,100/t (USD162/t) this month. However, with a current sales volume of less than 30tpd against that of 3,000t for last month, the source said customers need more time to accept the sharp price increase and the market sales performance is quite poor at the moment. “Seeing raw material prices of nickel went down in the past week, prices of 304 grade stainless steel CRC are expected to drop in the following days,” he said, adding that his current inventory is about 600t.
A Wuxi-based distributor of 304 grade stainless CRC with a trading volume of around 50,000t in 2015 told Asian Metal that the price is rising for the time being. His price for 304/2B 2.0mm*1,219mm*C from JISCO is RMB14,050/t (USD2,074/t) VAT included, up by RM250/t (USD37/t) compared with that of the previous trading day.
The source attributes the price increase to higher purchase cost. According to him, JISCO raised the list price of 304/2B 2.0mm*1,219mm*C by RMB300/t (USD44/t) to RMB13,900/t (USD2,052/t) VAT included for last week. However, seeing the sharp price increase, customers without urgent need for materials are still holding a wait-and-see attitude now and refuse to place orders. His current sales volume is less than 50tpd against that of about 3,000t for last month. With an inventory of around 1,000t in hand now, the source does not think the price will move up further in the coming days.
Another trader in Foshan, Guangdong province confirmed the price increase. His price for 304/2B 2.0mm*1,219mm*C from Taigang Stainless is RMB14,350/t (USD2,119/t) VAT included, RMB200/t (USD30/t) higher than that of the previous trading day.
The source has increased his prices by a total of RMB750/t (USD111/t) in the recent week. Nevertheless, many customers cannot accept the sharp price increase and his sales performance is quite poor at the moment. “Nobody expected the price would rise so quickly this month,” he said, adding that his current sales volume is below 30tpd against that of around 2,000t in September. The source believes the price will be stable in the next few days and his current stockpile is about 500t.
A traders in Hangzhou, Zhejiang province also reported to Asian Metal that his price for 304/2B 2.0mm*1,219mm*C from JISCO is RMB14,300/t (USD2,111/t), rising by RMB200/t (USD30/t) compared with that of last trading day.
The source followed other traders to lift his prices by about RMB1,100/t (USD162/t) this month. However, with a current sales volume of less than 30tpd against that of 3,000t for last month, the source said customers need more time to accept the sharp price increase and the market sales performance is quite poor at the moment. “Seeing raw material prices of nickel went down in the past week, prices of 304 grade stainless steel CRC are expected to drop in the following days,” he said, adding that his current inventory is about 600t.
