Chinese 304 grade stainless CRC prices slip
2024-03-27 08:25:22 [Print]
BEIJING (Asian Metal) 27 Mar 24 - Chinese 304 grade stainless CRC suppliers cut their prices this week discouraged by customers' slow purchasing activities and the decrease in steel mills' EXW prices. The present mainstream prices of stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS stand at RMB14,050-14,100/t (USD1,946-1,953/t) D/P in warehouse Wuxi and RMB14,000-14,050/t (USD1,939-1,946/t) D/P in warehouse Tianjin respectively, both down by RMB100/t (USD14/t) from last Friday. Insiders predict that Chinese 304 grade stainless CRC prices would further drop by RMB100/t (USD14/t) in the coming week.
A Wuxi-based distributor of 304 grade stainless CRC told Asian Metal that the price of stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS stands at RMB14,100/t (USD1,953/t) D/P in warehouse Wuxi without any concessions at present, while he still insisted on RMB14,200/t (USD1,967/t) last Friday. "Seeing TTSS reduced the EXW prices of 304 grade stainless CRC by RMB100/t (USD14/t) on March 25th, we also cut the price by RMB100/t (USD14/t) this week," said the trader, adding that many customers take cautious attitudes towards the market outlook and place orders sparingly at the moment. He sold about 10t on Tuesday at RMB14,100/t (USD1,953/t) and last sold around 20t last Friday at RMB14,200/t (USD1,967/t). The trader plans to lower the price again and predicts that Chinese 304 grade stainless CRC prices would go down by another RMB100/t (USD14/t) in the coming week.
Based on the regular sales volume of about 3,000tpm, the trader just sold around 2,000t in February and expects the sales amount to rise to about 3,000t this month. Having an inventory of about 1,000t in hand now, down from around 1,500t last month, they sold about 35,000t in 2023 and around 5,000t in the first two months of this year.
Another trader of 304 grade stainless CRC in Tianjin quotes RMB14,000/t (USD1,939/t) D/P in warehouse Tianjin for stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS with no concessions now, while his price was RMB14,100/t (USD1,953/t) last Friday. "We also cut the price by RMB100/t (USD14/t) this week on weak demand and the decrease in steel mills' EXW prices," said the trader. According to him, many customers still purchase from hand to mouth at present and traders have high pressure of capital flow at the month end. He sold about 10t early this week at RMB14,000/t (USD1,939/t) and last sold around 15t last Friday at RMB14,100/t (USD1,953/t). The trader intends to further decrease the price and predicts that Chinese 304 grade stainless CRC prices would fall by another RMB100/t (USD14/t) in the coming week.
With the regular sales volume of around 1,500tpm, the trader only sold about 1,000t last month and anticipates the sales amount to increase to around 1,500t this month. Holding a stockpile of about 600t in hand now, down from around 700t in February, they sold about 17,000t in 2023 and around 2,000t in Jan-Feb of this year.
A Wuxi-based distributor of 304 grade stainless CRC told Asian Metal that the price of stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS stands at RMB14,100/t (USD1,953/t) D/P in warehouse Wuxi without any concessions at present, while he still insisted on RMB14,200/t (USD1,967/t) last Friday. "Seeing TTSS reduced the EXW prices of 304 grade stainless CRC by RMB100/t (USD14/t) on March 25th, we also cut the price by RMB100/t (USD14/t) this week," said the trader, adding that many customers take cautious attitudes towards the market outlook and place orders sparingly at the moment. He sold about 10t on Tuesday at RMB14,100/t (USD1,953/t) and last sold around 20t last Friday at RMB14,200/t (USD1,967/t). The trader plans to lower the price again and predicts that Chinese 304 grade stainless CRC prices would go down by another RMB100/t (USD14/t) in the coming week.
Based on the regular sales volume of about 3,000tpm, the trader just sold around 2,000t in February and expects the sales amount to rise to about 3,000t this month. Having an inventory of about 1,000t in hand now, down from around 1,500t last month, they sold about 35,000t in 2023 and around 5,000t in the first two months of this year.
Another trader of 304 grade stainless CRC in Tianjin quotes RMB14,000/t (USD1,939/t) D/P in warehouse Tianjin for stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS with no concessions now, while his price was RMB14,100/t (USD1,953/t) last Friday. "We also cut the price by RMB100/t (USD14/t) this week on weak demand and the decrease in steel mills' EXW prices," said the trader. According to him, many customers still purchase from hand to mouth at present and traders have high pressure of capital flow at the month end. He sold about 10t early this week at RMB14,000/t (USD1,939/t) and last sold around 15t last Friday at RMB14,100/t (USD1,953/t). The trader intends to further decrease the price and predicts that Chinese 304 grade stainless CRC prices would fall by another RMB100/t (USD14/t) in the coming week.
With the regular sales volume of around 1,500tpm, the trader only sold about 1,000t last month and anticipates the sales amount to increase to around 1,500t this month. Holding a stockpile of about 600t in hand now, down from around 700t in February, they sold about 17,000t in 2023 and around 2,000t in Jan-Feb of this year.
