Prices of East Asia-origin 304 stainless CR sheets for delivery in one-to-two months have risen $100/tonne to $2,800-2,900/t cfr China in the 22 February week as buyers return to the market after nickel prices surged over the Chinese New Year holidays. Offer prices are also set for another round of increases this month, traders say.
不銹鋼捲製造商 不锈钢卷制造商stainless steel coil manufacturer
Transacted and offer prices were at $2,700-2,800/t and $2,800-2,900/t respectively in early February. “Some customers had held off their purchases before the holidays in anticipation of lower nickel prices. But nickel rose instead so some are rushing to buy now,” says a north Taiwan source. Nickel prices had surged by a few thousand dollars to the $20,000/t-level during the Chinese New Year holidays in mid-February.
不銹鋼板製造商 不锈钢板制造商stainless steel plate manufacturer
Market participants are now expecting another round of offer price rises for March after the previous increases in early February on strong nickel prices. Taiwanese stainless producers have announced they will raise export prices by $130-270/t in March, as Steel Business Briefing reported.       不銹鋼板材 不锈钢板材stainless steel plate

Offers from Taiwan are now heard at $2,900-2950/t. Some traders have received offers at around $2,950/t from Korea, while some are expecting to receive offers at $3,000/t this week. Traders say they have not received new offers from Japan but believe they will receive them at around $3,100/t this week.

Demand in Asia is starting to pick up but the rate is not fast because inventory levels in China remain high, sources say. “Offer prices have increased but customers are still a little hesitant about buying as they still have sufficient inventory,” notes a trader in south China. But industry watchers agree that sentiments are more positive, and stainless prices and demand are expected to be stronger as compared to last year.

Source: SBB