Chinese 304 grade stainless CRC prices increase further
2024-04-17 08:22:01 [Print]
BEIJING (Asian Metal) 17 Apr 24 - Chinese 304 grade stainless CRC suppliers further lifted their prices this week mainly supported by the increase in steel mills' EXW prices. The current mainstream prices of stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS hover at RMB14,400-14,450/t (USD1,989-1,996/t) D/P in warehouse Wuxi and RMB14,350-14,400/t (USD1,983-1,989/t) D/P in warehouse Tianjin respectively, both up by RMB100/t (USD14/t) compared with those of last Friday. Insiders predict that Chinese 304 grade stainless CRC prices would lack momentum to rise further in the coming week on weak demand.
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 RMB14,400/t (USD1,989/t) D/P in warehouse Wuxi without any concessions for the time being, while he quoted RMB14,300/t (USD1,976/t) last Friday. "Since TTSS raised the EXW prices of 304 grade stainless CRC by RMB200/t (USD28/t) on April 15th, we increased the price by RMB100/t (USD14/t) this week," said the trader, who told the demand from downstream industries remains unsatisfactory at the moment under customers' cautious attitudes. He sold about 10t on Tuesday at RMB14,400/t (USD1,989/t) and last sold around 10t last Friday at RMB14,300/t (USD1,976/t). The trader has no plan to further lift the price and predicts that Chinese 304 grade stainless CRC prices would stabilize in the coming week on weak demand and high prices of steel mills.
Based on the regular sales volume of about 2,000tpm, the trader sold around 2,000t in March and expects a stable sales amount this month. Having an inventory of about 1,000t in hand now, down from around 1,500t last month, they sold around 23,000t in 2023 and about 5,500t in Q1 of this year.
Another trader of 304 grade stainless CRC in Tianjin quotes RMB14,400/t (USD1,989/t) D/P in warehouse Tianjin for stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS with no concessions at present, and his price was RMB14,300/t (USD1,976/t) last Friday. "We further raised the price by RMB100/t (USD14/t) this week after the total increase of RMB200/t (USD28/t) last week mainly supported by the increase in steel mills' EXW prices," explained the trader, adding that many customers still purchase materials upon orders now. He sold about 10t early this week at RMB14,400/t (USD1,989/t) and last sold around 10t last Friday at RMB14,300/t (USD1,976/t). The trader has no intention to increase the price again and expects Chinese 304 grade stainless CRC prices to remain stable in the coming week on soft demand and high prices of steel mills.
With the regular monthly sales volume of around 1,500t, the trader sold about 1,500t last month and anticipates a stable sales amount in April. Having a stockpile of about 500t in hand now, in line with t month, they sold about 17,000t in 2023 and around 3,500t in the first quarter 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 RMB14,400/t (USD1,989/t) D/P in warehouse Wuxi without any concessions for the time being, while he quoted RMB14,300/t (USD1,976/t) last Friday. "Since TTSS raised the EXW prices of 304 grade stainless CRC by RMB200/t (USD28/t) on April 15th, we increased the price by RMB100/t (USD14/t) this week," said the trader, who told the demand from downstream industries remains unsatisfactory at the moment under customers' cautious attitudes. He sold about 10t on Tuesday at RMB14,400/t (USD1,989/t) and last sold around 10t last Friday at RMB14,300/t (USD1,976/t). The trader has no plan to further lift the price and predicts that Chinese 304 grade stainless CRC prices would stabilize in the coming week on weak demand and high prices of steel mills.
Based on the regular sales volume of about 2,000tpm, the trader sold around 2,000t in March and expects a stable sales amount this month. Having an inventory of about 1,000t in hand now, down from around 1,500t last month, they sold around 23,000t in 2023 and about 5,500t in Q1 of this year.
Another trader of 304 grade stainless CRC in Tianjin quotes RMB14,400/t (USD1,989/t) D/P in warehouse Tianjin for stainless CRC 304/2B 2.0mm*1,219mm*C from TTSS with no concessions at present, and his price was RMB14,300/t (USD1,976/t) last Friday. "We further raised the price by RMB100/t (USD14/t) this week after the total increase of RMB200/t (USD28/t) last week mainly supported by the increase in steel mills' EXW prices," explained the trader, adding that many customers still purchase materials upon orders now. He sold about 10t early this week at RMB14,400/t (USD1,989/t) and last sold around 10t last Friday at RMB14,300/t (USD1,976/t). The trader has no intention to increase the price again and expects Chinese 304 grade stainless CRC prices to remain stable in the coming week on soft demand and high prices of steel mills.
With the regular monthly sales volume of around 1,500t, the trader sold about 1,500t last month and anticipates a stable sales amount in April. Having a stockpile of about 500t in hand now, in line with t month, they sold about 17,000t in 2023 and around 3,500t in the first quarter of this year.
