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  • Chinese 304 grade stainless CRC prices decrease further

    2023-03-22 08:40:24   [Print]
    BEIJING (Asian Metal) 22 Mar 23 - Chinese 304 grade stainless CRC suppliers further reduced their prices this week on weak demand and the decrease in steel mills' EXW prices. The mainstream prices of stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS stand at RMB16,400-16,450/t (USD2,384-2,391/t) D/P in warehouse Wuxi at present, and those of stainless CRC 304/2B 2.0mm*1,219mm*C from ZPSS hover at RMB16,500-16,550/t (USD2,399-2,406/t) D/P in warehouse Hangzhou, both down by RMB100/t (USD15/t) compared with those of last Friday. Insiders predict that Chinese 304 grade stainless CRC prices would go down by another RMB100/t (USD15/t) in the coming week.

    A distributor of 304 grade stainless CRC in Wuxi reported to Asian Metal that the price of stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS hovers at RMB16,400/t (USD2,384/t) D/P in warehouse Wuxi without any discounts at present, down by RMB100/t (USD15/t) from last Friday. "Seeing TTSS cut the EXW prices of 304 grade stainless CRC by RMB200/t (USD29/t) on March 21st, we also decreased the price by RMB100/t (USD29/t) yesterday to attract customers," said the trader, adding that he already reduced the price by a total of RMB1,000/t (USD145/t) this month.Asian Metal Copyright According to him, seeing the continuous price decrease, customers prefer to take cautious attitudes for the time being and place orders sparingly.Asian Metal Copyright According to him, seeing the continuous price decrease, customers prefer to take cautious attitudes for the time being and place orders sparingly. He just sold about 10t on Tuesday at RMB16,400/t (USD2,384/t) and last sold about 10t last Friday at RMB16,500/t (USD2,399/t). The trader plans to further decrease the price and predicts that Chinese 304 grade stainless CRC prices would drop by another RMB100/t (USD15/t) in the coming week.

    Based on the regular sales volume of around 2,000tpm, the company sold about 2,000t last month and expects a stable sales amount in March. With a stockpile of about 700t in hand now, up from around 500t last month, they sold around 20,000t last year and about 3,500t in the first two months of 2023.

    A Hangzhou-based trader of 304 grade stainless CRC currently quotes RMB16,500/t (USD2,399/t) D/P in warehouse Hangzhou for stainless CRC 304/2B 2.0mm*1,219mm*C from ZPSS with no concessions, down by RMB100/t (USD15/t) compared with that of last Friday. "We further reduced the price by RMB100/t (USD15/t) this week after the decrease of RMB500/t (USD73/t) last week dragged by customers' slow buying activities and the decrease in steel mills' EXW prices," complained the trader.Asian Metal Copyright The trader plans to further decrease the price and predicts that Chinese 304 grade stainless CRC prices would drop by another RMB100t USD15t in the coming week.Asian Metal Copyright According to him, the sales performance remains unsatisfactory at the moment under customers' wait-and-see attitudes. He just sold about 10t on Tuesday at RMB16,500/t (USD2,399/t) and last sold around 10t last Friday at RMB16,600/t (USD2,413/t). The trader has the plan to further cut the price and predicts that Chinese 304 grade stainless CRC prices would move down by another RMB100/t (USD15/t) in the coming week.

    With a regular sales volume of about 2,000tpm, the trader sold around 2,000t in February and anticipates a stable sales amount this month. Holding a stockpile of about 500t in hand now, similar to that of last month, they sold around 20,000t last year and about 3,000t in the first two months of this year.

    .Asian Metal Copyright The trader plans to further decrease the price and predicts that Chinese 304 grade stainless CRC prices would drop by another RMB100t USD15t in the coming weekAsian Metal Copyright
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