Chinese 304 grade stainless bar prices move down
2024-04-08 08:16:00 [Print]
BEIJING (Asian Metal) 8 Apr 24 - Chinese 304 grade stainless bar suppliers reduced their prices this week discouraged by customers' slow buying activities. The present mainstream prices of stainless bar 304 Φ60mm stand at RMB13,300-13,600/t (USD1,839-1,880/t) D/P in warehouse Jiangsu, down by RMB300/t (USD41/t) compared with those of last week. Insiders predict that Chinese 304 grade stainless bar prices would decrease by another RMB100/t (USD14/t) in the coming week on weak demand.
A Taizhou-based producer of 304 grade stainless bar told the price of stainless bar 304 Φ60mm hovers at RMB13,300/t (USD1,839/t) D/P in warehouse Taizhou with no concessions at present, while he insisted on RMB13,600/t (USD1,880/t) last week. "We cut the price by RMB300/t (USD41/t) this week dragged by customers' slow purchasing activities," revealed the source. According to him, customers purchase materials sparingly at the moment for insufficient orders. He sold about 50t this week at RMB13,300/t (USD1,839/t) and last sold around 80t one week ago at RMB13,600/t (USD1,880/t). The source plans to lower the price again and predicts that Chinese 304 grade stainless bar prices would further slide by RMB100/t (USD14/t) in the coming week on soft demand.
Based on the annual production capacity of about 30,000t, the producer produced about 2,000t in March and expects a stable output this month. Having an inventory of about 3,000t in hand now, similar to that of last month, they produced about 24,000t in 2023 and around 5,000t in Q1 of this year.
A Wuxi-based trader of 304 grade stainless bar quotes RMB13,600/t (USD1,880/t) D/P in warehouse Wuxi without any concessions for stainless bar 304 Φ60mm from Qingshan Stainless at present, while the price was RMB13,900/t (USD1,922/t) last week. "Seeing other suppliers kept decreasing their prices these days, we had to follow suit to attract customers," said the trader, adding that many customers just purchase from hand to mouth for the time being and refuse to build large stockpiles. He sold about 30t this week at RMB13,600/t (USD1,880/t) and last sold around 60t last week at RMB13,900/t (USD1,922/t). The trader has the intention to further reduce the price and predicts that Chinese 304 grade stainless bar prices would move down by another RMB100/t (USD14/t) in the coming week on weak demand.
With a regular sales volume of about 2,000tpm, the trader sold around 2,000t last month and expects a stable sales amount in April. Holding a stockpile of about 1,000t in hand now, unchanged from last month, they sold about 23,000t last year and around 5,000t in Jan-Mar of this year.
A Taizhou-based producer of 304 grade stainless bar told the price of stainless bar 304 Φ60mm hovers at RMB13,300/t (USD1,839/t) D/P in warehouse Taizhou with no concessions at present, while he insisted on RMB13,600/t (USD1,880/t) last week. "We cut the price by RMB300/t (USD41/t) this week dragged by customers' slow purchasing activities," revealed the source. According to him, customers purchase materials sparingly at the moment for insufficient orders. He sold about 50t this week at RMB13,300/t (USD1,839/t) and last sold around 80t one week ago at RMB13,600/t (USD1,880/t). The source plans to lower the price again and predicts that Chinese 304 grade stainless bar prices would further slide by RMB100/t (USD14/t) in the coming week on soft demand.
Based on the annual production capacity of about 30,000t, the producer produced about 2,000t in March and expects a stable output this month. Having an inventory of about 3,000t in hand now, similar to that of last month, they produced about 24,000t in 2023 and around 5,000t in Q1 of this year.
A Wuxi-based trader of 304 grade stainless bar quotes RMB13,600/t (USD1,880/t) D/P in warehouse Wuxi without any concessions for stainless bar 304 Φ60mm from Qingshan Stainless at present, while the price was RMB13,900/t (USD1,922/t) last week. "Seeing other suppliers kept decreasing their prices these days, we had to follow suit to attract customers," said the trader, adding that many customers just purchase from hand to mouth for the time being and refuse to build large stockpiles. He sold about 30t this week at RMB13,600/t (USD1,880/t) and last sold around 60t last week at RMB13,900/t (USD1,922/t). The trader has the intention to further reduce the price and predicts that Chinese 304 grade stainless bar prices would move down by another RMB100/t (USD14/t) in the coming week on weak demand.
With a regular sales volume of about 2,000tpm, the trader sold around 2,000t last month and expects a stable sales amount in April. Holding a stockpile of about 1,000t in hand now, unchanged from last month, they sold about 23,000t last year and around 5,000t in Jan-Mar of this year.
