The price of stainless bar in China keeps low at present after it moved down last week. The source’s sales volume on Wednesday was no more than 1 tonne and the best level in the peak season is 4 to 5 tonnes per day. Most producers and traders are reluctant to lower quotations further, but the demand is as weak as before, so observers predict that the price is likely to decline further next week.
A stainless bar distributor in Wuxi, Jiangsu Province revealed that his current quotation for Φ65-130mm 304 stainless bar is CNY 16,000 per tonne (VAT included), unchanged compared with that of last working day.
According to the source, the price of stainless bar decreased several days ago by CNY 300 to CNY 500 per tonne and then traders began watching it rather than keeping lowering offers.
The source said that "Actually, the demand is not stronger after a price decline, and I know there are quotations as low as CNY 15,800 per tonne."
The source's sales volume on Wednesday was no more than 1t and the best level in the peak season is 4 to 5 tonnes per day. Thus, buyers would like to purchase materials with low cost and his sales volume is far less than the target level of 10 tonnes per day. Besides, he reported that he will keep monitoring the market and do as others do. About the coming market, the source is confused and said it is hard to predict.
Another stainless bar trader in Beijing revealed that his current quotation for stainless bar 304 Φ60-130mm from mills in Jiangsu Province is CNY 16,700 per tonne (VAT included), unchanged after it declined by CNY 400 per tonne last week.
Usually buyers prefer to quotation without tax, which is CNY 15,500 per tonne and the tax is 8%, according to the source. A stainless bar distributor in Wuxi, Jiangsu Province revealed that his current quotation for stainless bar 304 Φ65-130mm is CNY 16,000 tonne VAT included, unchanged compared with that of last working day. The current market has been dull for a long time and producers all decreased quotations, so traders had to follow suit. Most producers and traders are reluctant to lower quotations further, but the demand is as weak as before, so observers predict that the price is likely to decline again next week.
The source's sales volume was no more than 1t and the best level in the peak season is 4 to 5 tonnes per day. Most producers and traders are reluctant to lower quotations further, but the demand is as weak as before, so observers predict that the price is likely to decline again next week. Besides, he reported that he will keep monitoring the market and do as others do.
A stainless bar dealer in Chengdu, Sichuan Province reported that the current quotation for stainless bar 304 Φ60-130mm from mills in Sichuan Province is CNY 17,300 per tonne (VAT included), the same as that of last working day.
The source said the price went down some days ago because of the sluggish nickel market performance and the soft demand from downstream buyers. The price of nickel in the LME futures market is still lingering at around USD 16,000 per tonne and it could not support the stainless steel. With a low stock of 20 to 30 tonnes in hand against the regular level of over 50 tonnes, the source is pessimistic about the coming market. With a low stock of 20 to 30 tonnes in hand against the regular level of over 50 tonnes, the source is pessimistic about the coming market. Most producers and traders are reluctant to lower quotations further, but the demand is as weak as before, so observers predict that the price is likely to decline again next week.
