Chinese 304 grade stainless HRC prices drop
2017-05-19 08:40:46 [Print]
BEIJING (Asian Metal) 19 May 17 - Chinese 304 grade stainless HRC prices see a downward trend at present mainly because of weak customer demand and decrease in steel mills’ list prices. Current mainstream market prices of 304/No.1 (4.0-12.0)mm*1,520mm*C from Eastern Special Steel are about RMB12,700/t (USD1,843/t) VAT included by D/P in Wuxi, Jiangsu province. Insiders are not confident of the market outlook.
A Wuxi-based distributor of 304 grade stainless HRC told Asian Metal that the price is going down for the time being. His price for 304/No.1 6.0mm*1,520mm*C from Eastern Special Steel is RMB12,700/t (USD1,843/t) VAT included, down by RMB100/t (USD15/t) compared with that of last trading day.
The source attributes the price decrease to lower purchase cost. According to him, Eastern Special Steel reduced the list price of 304/No.1 (4.0-12.0)mm*1,520mm*C by RMB50/t (USD7/t) to RMB12,850/t (USD1,865/t) on 18th May after the decrease of RMB50/t (USD7/t) on 17th May. “Eastern Special Steel has decreased the price by a total of RMB250/t (USD36/t) this week,” he said. However, seeing the continuous price decrease, customers without urgent need for materials are still holding a wait-and-see attitude now and refusing to place orders. He has few deals concluded now against the sales volume of about 1,500t for last month. Holding a stockpile of around 600t in hand now, the source does not think the market will improve in the following days.
Another local trader confirmed the price decrease. His price for 304/No.1 4.0mm*1,520mm*C from Chengde Stainless is RMB12,700/t (USD1,843/t) VAT included, RMB100/t (USD15/t) lower than that of last trading day.
The source followed other local traders to cut his prices by RMB300/t (USD44/t) totally in the past two days on weak customer demand. According to him, it is not the traditionally high season and customers place orders sparingly under the downward price trend. “Customers just purchase the material in small quantities for urgent need,” he said, adding that his current sales volume is no more than 50tpd against that of about 2,000t for last month. The source supposes the price is likely to go down further in the next few days and his current inventory is about 500t.
A Wuxi-based distributor of 304 grade stainless HRC told Asian Metal that the price is going down for the time being. His price for 304/No.1 6.0mm*1,520mm*C from Eastern Special Steel is RMB12,700/t (USD1,843/t) VAT included, down by RMB100/t (USD15/t) compared with that of last trading day.
The source attributes the price decrease to lower purchase cost. According to him, Eastern Special Steel reduced the list price of 304/No.1 (4.0-12.0)mm*1,520mm*C by RMB50/t (USD7/t) to RMB12,850/t (USD1,865/t) on 18th May after the decrease of RMB50/t (USD7/t) on 17th May. “Eastern Special Steel has decreased the price by a total of RMB250/t (USD36/t) this week,” he said. However, seeing the continuous price decrease, customers without urgent need for materials are still holding a wait-and-see attitude now and refusing to place orders. He has few deals concluded now against the sales volume of about 1,500t for last month. Holding a stockpile of around 600t in hand now, the source does not think the market will improve in the following days.
Another local trader confirmed the price decrease. His price for 304/No.1 4.0mm*1,520mm*C from Chengde Stainless is RMB12,700/t (USD1,843/t) VAT included, RMB100/t (USD15/t) lower than that of last trading day.
The source followed other local traders to cut his prices by RMB300/t (USD44/t) totally in the past two days on weak customer demand. According to him, it is not the traditionally high season and customers place orders sparingly under the downward price trend. “Customers just purchase the material in small quantities for urgent need,” he said, adding that his current sales volume is no more than 50tpd against that of about 2,000t for last month. The source supposes the price is likely to go down further in the next few days and his current inventory is about 500t.
