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Negotiations on CR Austenitic Stainless Sheets in Asia Not Lackluster at All-The 16th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
3/16/2015 Stainless Steel Exhibition |
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The Japanese mills are proceeding with negotiations on cold-rolled (CR) austenitic stainless steel sheets for Asia for shipments of February and March across the Chinese New Year holiday, which are in a state to be lackluster at all. It is because the number of inquiries is few and it is in a state to be difficult to conclude contracts as even in negotiations with customers having a long-term business relationship, customers require big price reductions.
As the LME nickel price is falling to the level of $6.50 per pound, cheap price products are marketed. Rerolling mills'' offer prices are the level of $2,200-2,300 CFR. Such prices are on a same level with those of hot-rolled austenitic stainless steel coils. A mill source is observing that the main market prices will be the level of $2,400 CFR.
In case of the Japanese mills, even if they offer prices at the level of $2,500 CFR, things are turned out for them to be requested to cut their prices to the level of $2,400 CFR once they enter into negotiations.
When the domestic price of CR austenitic ones is presumed to be 300,000 yen per ton, an export price becomes $2,500 CFR or so being profitable at an exchange rate of 120 yen to the dollar but partly due to the unstable exchange rate, they are difficult to proceed with negotiations aggressively.
Chinese and Taiwanese austenitic stainless sheets begin to flow back to the Asian region. The export suspension from both countries due to Europe''s antidumping (AD) decision coming close against them is greatly attributed to it. As among Asian countries, AD cases on austenitic stainless sheets have been immoderately filed, further turmoil of the market is increasing. Under such circumstances, a price rise cannot be expected at all. The Japanese mills are seeing for negotiations to have virtually ended.
Meantime, prices of CR ferritic stainless steel sheets are dropping for a while now. They dropped even gradually by around $50 for a month or two. They are likely to have fallen having been dragged down by a price fall of austenitic ones.
-The 16th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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