Chinese 304 grade stainless CRC prices rise
2024-04-10 08:18:55 [Print]
BEIJING (Asian Metal) 10 Apr 24 - Chinese 304 grade stainless CRC suppliers raised their prices this week mainly supported by the increase in steel mills' EXW prices. The mainstream prices of stainless CRC 304/2B 2.0mm*1,219mm*C from Taigang Stainless hover at RMB14,200-14,250/t (USD1,963-1,970/t) D/P in warehouse Wuxi, and those of the materials from Yongjin Stainless stand at RMB14,100-14,150/t (USD1,949-1,956/t) D/P in warehouse Hangzhou, both up by RMB100/t (USD14/t) from last Sunday. Considering the demand from downstream industries remains unsatisfactory, insiders suppose that Chinese 304 grade stainless CRC prices would lack momentum to increase further in the coming week.
A Wuxi-based distributor of 304 grade stainless CRC disclosed that the price of stainless CRC 304/2B 2.0mm*1,219mm*C from Taigang Stainless stands at RMB14,200/t (USD1,963/t) D/P in warehouse Wuxi without any concessions at present, while he quoted RMB14,100/t (USD1,949/t) last Sunday. "Considering Taigang Stainless lifted the EXW prices of 304 grade stainless CRC by RMB100/t (USD14/t) on April 8th, we also increased the price by RMB100/t (USD14/t) this week," explained the trader. According to him, the demand from downstream industries fails to improve and many customers still purchase from hand to mouth at the moment. He sold about 10t on Tuesday at RMB14,200/t (USD1,963/t) and last sold around 10t last Sunday at RMB14,100/t (USD1,949/t). The trader plans to maintain the price unchanged and predicts that Chinese 304 grade stainless CRC prices would stabilize in the coming week on soft demand and high prices of steel mills.
With a regular sales volume of about 1,500tpm, the trader sold around 1,500t in March and anticipates a stable sales amount this month. Holding a stockpile of about 700t in hand at present, up from around 500t last month, they sold around 16,000t in 2023 and about 4,000t in Q1 of this year.
A trader of 304 grade stainless CRC in Hangzhou quotes RMB14,100/t (USD1,949/t) D/P in warehouse Hangzhou for stainless CRC 304/2B 2.0mm*1,219mm*C from Yongjin Stainless with no concessions now, while his price was RMB14,000/t (USD1,936/t) last Sunday. "We also raised the price by RMB100/t (USD14/t) this week mainly because of the increase in steel mills' EXW prices," said the trader, adding that the sales performance remains unsatisfactory for the time being under customers' cautious attitudes. He sold about 10t early this week at RMB14,100/t (USD1,949/t) and last sold around 10t last Sunday at RMB14,000/t (USD1,936/t). The trader has no intention to further lift the price and expects Chinese 304 grade stainless CRC prices to keep stable in the coming week due to the unimproved demand and high prices of steel mills.
Based on the regular sales volume of about 1,000tpm, the trader sold around 1,000t last month and thinks the sales amount would maintain stable in April. Having an inventory of about 300t in hand now, similar to that of last month, they sold around 12,000t in 2023 and about 2,800t in Q1 of 2024.
A Wuxi-based distributor of 304 grade stainless CRC disclosed that the price of stainless CRC 304/2B 2.0mm*1,219mm*C from Taigang Stainless stands at RMB14,200/t (USD1,963/t) D/P in warehouse Wuxi without any concessions at present, while he quoted RMB14,100/t (USD1,949/t) last Sunday. "Considering Taigang Stainless lifted the EXW prices of 304 grade stainless CRC by RMB100/t (USD14/t) on April 8th, we also increased the price by RMB100/t (USD14/t) this week," explained the trader. According to him, the demand from downstream industries fails to improve and many customers still purchase from hand to mouth at the moment. He sold about 10t on Tuesday at RMB14,200/t (USD1,963/t) and last sold around 10t last Sunday at RMB14,100/t (USD1,949/t). The trader plans to maintain the price unchanged and predicts that Chinese 304 grade stainless CRC prices would stabilize in the coming week on soft demand and high prices of steel mills.
With a regular sales volume of about 1,500tpm, the trader sold around 1,500t in March and anticipates a stable sales amount this month. Holding a stockpile of about 700t in hand at present, up from around 500t last month, they sold around 16,000t in 2023 and about 4,000t in Q1 of this year.
A trader of 304 grade stainless CRC in Hangzhou quotes RMB14,100/t (USD1,949/t) D/P in warehouse Hangzhou for stainless CRC 304/2B 2.0mm*1,219mm*C from Yongjin Stainless with no concessions now, while his price was RMB14,000/t (USD1,936/t) last Sunday. "We also raised the price by RMB100/t (USD14/t) this week mainly because of the increase in steel mills' EXW prices," said the trader, adding that the sales performance remains unsatisfactory for the time being under customers' cautious attitudes. He sold about 10t early this week at RMB14,100/t (USD1,949/t) and last sold around 10t last Sunday at RMB14,000/t (USD1,936/t). The trader has no intention to further lift the price and expects Chinese 304 grade stainless CRC prices to keep stable in the coming week due to the unimproved demand and high prices of steel mills.
Based on the regular sales volume of about 1,000tpm, the trader sold around 1,000t last month and thinks the sales amount would maintain stable in April. Having an inventory of about 300t in hand now, similar to that of last month, they sold around 12,000t in 2023 and about 2,800t in Q1 of 2024.
