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

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April 2019 | Stainless Steels


Stable to lower pricing reinforces the view that production cuts are coming: Asian Highlights


In carbon and alloy steels, rising exports in this seasonally stronger period have been helping local suppliers to tighten their previously slack markets.

As we expected, Chinese stainless exports have been reviving in recent weeks after a rapid erosion during the first two months of the year. Then sluggish demand and relatively uncompetitive Chinese prices worked against Chinese suppliers but only temporarily. In March exports of CR sheet, the largest exported product, almost doubled month on month to over 99,000 tonnes though the total was still 6% lower than a year earlier when volumes exceeded 106,000 tonnes. Taking into account the sharper declines in earlier months, of close to 20% year on year, volumes slipped 14.6% in Q1.

In carbon and alloy steels, rising exports in this seasonally stronger period have been helping local suppliers to tighten their previously slack markets. We can see this in the drawdown of surplus stocks among Chinese “retailers” or dealers. When it comes to stainless, however, there is little evidence that local fundamentals...

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