Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2019 | Stainless Steels

Market prospects pick up: Asian Highlights

Bolstering confidence among the market bulls is the realization that input costs are picking up.

Although underlying demand for stainless has been sluggish over the past quarter, prices are likely to be lifted by renewed buying activity. Sellers are comforted by the knowledge of consumer re-stocking efforts ahead of the Chinese New Year holiday (February 4 -10) and are thus taking a forthright approach to sales. Despite no pronounced monthly price increases in the region, levels have in recent weeks started to firm. Physical 304 cold rolled coil prices in China slipped only marginally by around 0.3% month-on-month to RMB 14,500 /tonne. Elsewhere in Taiwan, the local stainless steel market is also showing signs of a recovery, with domestic prices ending their downtrend. On the supply side, as capacity shutdowns in the Chinese steel industry...


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