Chinese 304 grade stainless CRC prices fail to rise further
2017-06-27 08:47:08 [Print]
BEIJING (Asian Metal) 27 Jun 17 - Chinese 304 grade stainless CRC prices are generally stable for the time being, but the market sales performance continues to be bad on weak customer demand. Current mainstream market prices of 304/2B 2.0mm*1,219mm*C from Taigang Stainless and JISCO are about RMB13,400/t (USD1,959/t) VAT included by D/P in Wuxi, Jiangsu province. Insiders think the market will keep quiet in the coming days.
A Wuxi-based distributor of 304 grade stainless CRC told Asian Metal that the price remains stable at present. His price for 304/2B 2.0mm*1,219mm*C from Taigang Stainless is RMB13,400/t (USD1,959/t) VAT included, the same as that of last trading day.
As Taigang Stainless keeps the list price of 304/2B 2.0mm*1,219mm*C stable at RMB13,400/t (USD1,959/t) VAT included, the source has no intention to adjust his prices at the moment. According to him, the price began to decrease by about RMB300/t (USD44/t) last Thursday and Friday on weak customer demand after the sharp rebound of around RMB1,400/t (USD205/t) in the previous week. “Customers without urgent need for materials are just taking a cautious attitude now and refuse to place orders,” he said, adding that there are few deals concluded now against the sales volume of about 1,500t for last month. Holding a stockpile of less than 500t in hand now, the source does not expect the price to go up in the next few days.
Another local trader confirmed the stable price. His price for 304/2B 2.0mm*1,219mm*C from JISCO is RMB13,400/t (USD1,959/t) VAT included, unchanged compared with that of last trading day.
With a stockpile of no more than 500t in hand now, the source expressed that the low market inventory supports the price to be stable at present although demand from customers remains weak. According to him, as prices went down continuously in previous months, most traders are not confident of the market outlook and refuse to build large stockpiles. “The obvious price rebound last week is not because of better demand from customers,” he said, adding that it is the traditionally low season and demand from downstream customers is unlikely to be released in the near future. With a current sales volume of less than 30tpd against that of about 1,000t for last month, the source supposes the price will be stable in the following days.
A Wuxi-based distributor of 304 grade stainless CRC told Asian Metal that the price remains stable at present. His price for 304/2B 2.0mm*1,219mm*C from Taigang Stainless is RMB13,400/t (USD1,959/t) VAT included, the same as that of last trading day.
As Taigang Stainless keeps the list price of 304/2B 2.0mm*1,219mm*C stable at RMB13,400/t (USD1,959/t) VAT included, the source has no intention to adjust his prices at the moment. According to him, the price began to decrease by about RMB300/t (USD44/t) last Thursday and Friday on weak customer demand after the sharp rebound of around RMB1,400/t (USD205/t) in the previous week. “Customers without urgent need for materials are just taking a cautious attitude now and refuse to place orders,” he said, adding that there are few deals concluded now against the sales volume of about 1,500t for last month. Holding a stockpile of less than 500t in hand now, the source does not expect the price to go up in the next few days.
Another local trader confirmed the stable price. His price for 304/2B 2.0mm*1,219mm*C from JISCO is RMB13,400/t (USD1,959/t) VAT included, unchanged compared with that of last trading day.
With a stockpile of no more than 500t in hand now, the source expressed that the low market inventory supports the price to be stable at present although demand from customers remains weak. According to him, as prices went down continuously in previous months, most traders are not confident of the market outlook and refuse to build large stockpiles. “The obvious price rebound last week is not because of better demand from customers,” he said, adding that it is the traditionally low season and demand from downstream customers is unlikely to be released in the near future. With a current sales volume of less than 30tpd against that of about 1,000t for last month, the source supposes the price will be stable in the following days.
