Chinese 201 grade stainless CRC prices go down
2017-06-28 08:44:24 [Print]
BEIJING (Asian Metal) 28 Jun 17 - Chinese 201 grade stainless CRC prices see a downward trend at present because of decrease in steel mills’ list prices and weak customer demand. Current mainstream market prices of 201/2B 1.0mm*1,219mm*C from LISCO and Baosteel are about RMB8,500/t (USD1,242/t) and RMB8,200/t (USD1,199/t) VAT included respectively by D/P in Wuxi, Jiangsu province. Insiders think the price is likely to drop again in the coming days.
A Wuxi-based distributor of 201 grade stainless CRC told Asian Metal that the price is going down for the time being. His price for 201/2B 1.0mm*1,219mm*C from LISCO is RMB8,500/t (USD1,242/t) VAT included, down by RMB200/t (USD29/t) this week.
The source attributes the price decrease to lower purchase cost. According to him, LISCO reduced the list price of 201/2B 1.0mm*1,219mm*C for Wuxi market by RMB400/t (USD58/t) to RMB8,500/t (USD1,242/t) in the past week. Nevertheless, expecting the price to decrease further, customers without urgent need for materials are just taking a cautious attitude now and refusing to place orders. “My current sales volume remains at no more than 20tpd against that of about 1,000t for last month,” he said. Holding a stockpile of around 500t in hand now, the source does not suppose the market will improve in the following days.
Another local trader confirmed the price decrease. His price for 201/2B 1.0mm*1,219mm*C from Baosteel is RMB8,200/t (USD1,199/t) VAT included, down by RMB200/t (USD29/t) this week.
The source revealed the price has declined by RMB400/t (USD58/t) since last Thursday on weak customer demand after the rebound of RMB1,200/t (USD175/t) in the previous week. “It is the traditionally low season now and demand from downstream customers is unlikely to be released in the near future,” he said, adding that there are few deals concluded now against the sales volume of about 900t for last month. Having no confidence in the market outlook, traders are still reluctant to build large stockpiles and his current inventory is no more than 300t. The source believes the price may go down further in the next few days.
A Wuxi-based distributor of 201 grade stainless CRC told Asian Metal that the price is going down for the time being. His price for 201/2B 1.0mm*1,219mm*C from LISCO is RMB8,500/t (USD1,242/t) VAT included, down by RMB200/t (USD29/t) this week.
The source attributes the price decrease to lower purchase cost. According to him, LISCO reduced the list price of 201/2B 1.0mm*1,219mm*C for Wuxi market by RMB400/t (USD58/t) to RMB8,500/t (USD1,242/t) in the past week. Nevertheless, expecting the price to decrease further, customers without urgent need for materials are just taking a cautious attitude now and refusing to place orders. “My current sales volume remains at no more than 20tpd against that of about 1,000t for last month,” he said. Holding a stockpile of around 500t in hand now, the source does not suppose the market will improve in the following days.
Another local trader confirmed the price decrease. His price for 201/2B 1.0mm*1,219mm*C from Baosteel is RMB8,200/t (USD1,199/t) VAT included, down by RMB200/t (USD29/t) this week.
The source revealed the price has declined by RMB400/t (USD58/t) since last Thursday on weak customer demand after the rebound of RMB1,200/t (USD175/t) in the previous week. “It is the traditionally low season now and demand from downstream customers is unlikely to be released in the near future,” he said, adding that there are few deals concluded now against the sales volume of about 900t for last month. Having no confidence in the market outlook, traders are still reluctant to build large stockpiles and his current inventory is no more than 300t. The source believes the price may go down further in the next few days.
