Chinese 304 grade stainless HRC prices increase
2017-08-18 09:09:20 [Print]
BEIJING (Asian Metal) 18 Aug 17 - Chinese 304 grade stainless HRC prices see an upward trend at present on higher raw material costs and increase 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 and Chengde Stainless are about RMB15,100/t (USD2,265/t) VAT included by D/P in Wuxi, Jiangsu province. Insiders do not expect the price to go up further in the coming days on weak customer demand.
A Wuxi-based distributor of 304 grade stainless HRC told Asian Metal that the price is going up for the time being. His price for 304/No.1 6.0mm*1,520mm*C from Chengde Stainless is RMB15,100/t (USD2,265/t) VAT included, up by RMB300/t (USD45/t) compared with that of last trading day.
The source attributes the price increase to higher raw material costs. According to him, the market price of Jinchuan 99.9%min nickel cathode in domestic China rose by RMB2,000/t (USD300/t) yesterday to around RMB86,250/t (USD12,936/t). However, as the price kept going up and down recently, customers without urgent need for materials are mostly taking a cautious attitude now and placing orders sparingly. “The price went up by RMB200/t (USD30/t) on Monday but decreased by a total of RMB400/t (USD60/t) on Tuesday and Wednesday,” he said, adding that he has no deals concluded now against the sales volume of around 1,000t for last month. The source does not think the price will increase further in the next few days on weak customer demand and his current inventory is about 500t.
Another local trader confirmed the price increase. His price for 304/No.1 4.0mm*1,520mm*C from Eastern Special Steel is RMB15,100/t (USD2,265/t) VAT included, up by RMB300/t (USD45/t) compared with that of last trading day.
According to the source, Eastern Special Steel raised the list price of 304/No.1 (4.0-12.0)mm*1,520mm*C by RMB250/t (USD37/t) to RMB15,150/t (USD2,272/t) VAT included on 17th August. “Traders just followed the price trend of nickel and steel mills’ list prices to adjust 304 grade stainless HRC prices now,” he said, adding that the price in local market has witnessed a total increase of RMB1,000/t (USD150/t) this month. Nevertheless, because demand from downstream customers continues to be weak amid the traditionally low season, the market sales performance does not become better at the moment. His current sales volume is no more than 30tpd against that of about 1,000t for last month. Holding a stockpile of below 500t in hand now, the source supposes the market will keep quiet in the following days.
A Wuxi-based distributor of 304 grade stainless HRC told Asian Metal that the price is going up for the time being. His price for 304/No.1 6.0mm*1,520mm*C from Chengde Stainless is RMB15,100/t (USD2,265/t) VAT included, up by RMB300/t (USD45/t) compared with that of last trading day.
The source attributes the price increase to higher raw material costs. According to him, the market price of Jinchuan 99.9%min nickel cathode in domestic China rose by RMB2,000/t (USD300/t) yesterday to around RMB86,250/t (USD12,936/t). However, as the price kept going up and down recently, customers without urgent need for materials are mostly taking a cautious attitude now and placing orders sparingly. “The price went up by RMB200/t (USD30/t) on Monday but decreased by a total of RMB400/t (USD60/t) on Tuesday and Wednesday,” he said, adding that he has no deals concluded now against the sales volume of around 1,000t for last month. The source does not think the price will increase further in the next few days on weak customer demand and his current inventory is about 500t.
Another local trader confirmed the price increase. His price for 304/No.1 4.0mm*1,520mm*C from Eastern Special Steel is RMB15,100/t (USD2,265/t) VAT included, up by RMB300/t (USD45/t) compared with that of last trading day.
According to the source, Eastern Special Steel raised the list price of 304/No.1 (4.0-12.0)mm*1,520mm*C by RMB250/t (USD37/t) to RMB15,150/t (USD2,272/t) VAT included on 17th August. “Traders just followed the price trend of nickel and steel mills’ list prices to adjust 304 grade stainless HRC prices now,” he said, adding that the price in local market has witnessed a total increase of RMB1,000/t (USD150/t) this month. Nevertheless, because demand from downstream customers continues to be weak amid the traditionally low season, the market sales performance does not become better at the moment. His current sales volume is no more than 30tpd against that of about 1,000t for last month. Holding a stockpile of below 500t in hand now, the source supposes the market will keep quiet in the following days.
