Prices of austenitic cold rolled stainless steel sheets begin to be accepted at USD 2,700 CFR in the Asian region, and are about to move on to USD 2,750 CFR.
As the nickel price has begun to rise from late last week and come close to the range of USD 8, seeing as bottoming out in the austenitic CR stainless sheet market, customers have asked for restoring expired offer prices, and orders settled at that level are largely increasing. Accordingly, the price level of USD 2,700 CFR begins to be accepted. However, when the nickel price becomes the USD 8 level, those prices are necessary to become USD 2,800 CFR but as the nickel price has just risen, each customer has been unable to get a step to that level yet. As usual, demand for stainless sheets increases after the Chinese New Year (February 10), attention is drawn to what extent purchasing is accelerated, and price increase is accepted in negotiations which will be commenced from next week for shipment before the Chinese New Year.
Korea's POSCO left its domestic prices of austenitic CR stainless sheets unchanged for December shipment. It decided them before price rise of nickel. Some observe that POPSCO might reduce the range of discount at present. As in that country, the won is appreciating, POSCO which proceeded with export negotiations at the level of USD 2,600 CFR is said to have raised its price to USD 2,700 CFR. For Japan, the Korean mill's price increase will change the environment of negotiations and is said to be welcome moves.
The Taiwanese mills also left its domestic prices unchanged for December shipment. Its discount range is uncertain as it varies depending on a customer, but it is said that there is a movement for it to reduce the discount range being identified as NTD 6,000 (USD 207) to 9,000 (USD 310) against the list price of NTD 86,500 (USD 2,980).
In China, Taiyuan Iron & Steel raised its prices by 900 CNY (USD 143) for December shipment. But as it decided its prices in the middle of November when the nickel price was the level of USD 7.00 to 7.50, it won't be surprised if the company raises its prices by about CNY 1,000 (USD 160) for January shipment. In Wuxi, the market price is 15,500 CNY which is similar to that of TISCO. Usually, TISCO's price exceeds its market price by 600 CNY (USD 95), and therefore, TISCO is likely to raise largely its price for January shipment.
In the USA, 4 mills including AK Steel raised their prices by $150 per ton all together. In Europe, the situation is uncertain but the prices are said to have risen by 10 to 20 EUR in France, Germany and so on while they dropped in Italy.
Overall, prices of austenitic CR stainless sheets are moving on to increase worldwide. If the nickel price remains stable, price increase will penetrate into the Asian market as well, and realization of those prices to reach USD 2,800 CFR will not be in so far future.
