June 2012 | Stainless Steels
Prices still falling: Asian Highlights
No signs of increased demand in Asia, falling nickel prices has lead to price cuts
There have been no signs of improved demand for stainless steel in Asia, and the falling nickel price on the LME has led mills to trim the price of 304 grade CR coil. In Taiwan, price falls of $50-120/tonne have been reported; in South Korea the falls are up to $150/tonne. Chinese domestic prices will continue to fall in July. Taigang Stainless, the largest stainless maker in China has cut list prices for deliveries of 304 grade stainless flat products next month, the fourth successive monthly cut. The reduction is much greater than was the case for June deliveries: Rmb800-1,100/tonne ($126-173/tonne) compared with Rmb300-400/tonne. The falling nickel price is a continuing factor, but slack demand and, until recently, rising distributor stocks have been decisive in holding down prices.China apprently cutting output slowly - slowly...Despite current difficulties, stainless steel capacity continues to expand in China; Taigang Stainless Steel has started work...
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