Taiyuan Steel keeps stainless steel Ex works price stable
2010-04-14 09:25:02 【Print】
BEIJING (Asian Metal) 14 Apr 10–– On Tuesday, Taiyuan Steel released the new Ex works price of stainless steel for the shipment from April 13 to April 19. The Ex works price for 304/2B 2.0mm coil keeps at RMB25,620/t VAT included Ex works, that of 304/No.1 6.0mm coil runs at RMB24,120/t VAT included Ex works, and that of 430/2B 2.0mm coil is RMB13,270/t VAT included Ex works, all unchanged on the basis of last week.
Viewing the price of LME nickel keeps increasing, most market participants predicted that Taiyuan Steel would move up the Ex works price. However, Taiyuan Steel keeps the Ex works price unchanged considering the large market stock and weak demand. In Wuxi, the market stock of stainless steel grading 304 is more than 220,000t, the highest level these months since 2010. Due to large stocks, many traders pick up new materials inactively at the relatively high Ex works price. Meantime, the demand from downstream users keeps weak, and customers cannot accept the high purchase cost of the material. Therefore, Taiyuan Steel does not move up the Ex works price.
Seeing the unchanged Ex works price, traders do not lift the sales price in spite that the price of LME nickel further increased sharply by USD560/t on Monday after an increase of USD470/t last Friday. Meantime, due to the large market stock, traders want to sell the material as soon as possible so as to get back the money quickly. In Wuxi, the mainstream sales price of 304/2B 2.0mm coil from Taiyuan Steel stays at RMB24,000-24,100/t VAT included, unchanged after an increase of RMB100-200/t on Saturday.
For the future market, most market observers predicted that Taiyuan Steel will not move up the Ex works price in following week in view of the weak demand and large market stock. Meantime, the price in spot market is likely to show an upward trend supported by the increasing LME nickel price. However, the increase scale will be limited dragged by the weak demand.
Viewing the price of LME nickel keeps increasing, most market participants predicted that Taiyuan Steel would move up the Ex works price. However, Taiyuan Steel keeps the Ex works price unchanged considering the large market stock and weak demand. In Wuxi, the market stock of stainless steel grading 304 is more than 220,000t, the highest level these months since 2010. Due to large stocks, many traders pick up new materials inactively at the relatively high Ex works price. Meantime, the demand from downstream users keeps weak, and customers cannot accept the high purchase cost of the material. Therefore, Taiyuan Steel does not move up the Ex works price.
Seeing the unchanged Ex works price, traders do not lift the sales price in spite that the price of LME nickel further increased sharply by USD560/t on Monday after an increase of USD470/t last Friday. Meantime, due to the large market stock, traders want to sell the material as soon as possible so as to get back the money quickly. In Wuxi, the mainstream sales price of 304/2B 2.0mm coil from Taiyuan Steel stays at RMB24,000-24,100/t VAT included, unchanged after an increase of RMB100-200/t on Saturday.
For the future market, most market observers predicted that Taiyuan Steel will not move up the Ex works price in following week in view of the weak demand and large market stock. Meantime, the price in spot market is likely to show an upward trend supported by the increasing LME nickel price. However, the increase scale will be limited dragged by the weak demand.
