What It could Go after Asia Stainless Steel Price Increase Sharp.
Since South Korea's POSCO was affected by the typhoon "Hinnamnor" and the fire on September 6, the steelmaking and rolling production lines were suspended, and the stainless steel market in Asia has risen sharply.
The order price of 304 cold rolling in mainland China has risen700 RMB/tons (About 100USD/ton), 304 hot rolling price has risen 800 RMB/tons (About 110 USD/Ton).
The order price of 304 cold rolling in Taiwan China has risen 7000 Taiwan dollars/tons (about 200 USD), the cutting price has risen 7000 Taiwan dollars/tons (about 200 USD)
The Indonesia’s Tsingshan hot rolled 304 stainless steel rose by 250 US dollars-280 US dollars in export quotations, and South Korea’s hot rolled 304 stainless steel from 4 million won ( about 2800 USD) to 4.2 million won (2900 USD), cold rolling 304 Stainless steel rose sharply from 4.1 million won (2850 USD) to 4.3 million won (3000 USD).
However, with the approaching of the Chinese national holiday, whether it is Indonesia, South Korea or mainland China and Taiwan, the recent gains have begun to cool down, and downstream buyers have also slowed down the pace of high-level entry.
The market believes that even if the LME nickel price re-warms to US$25,000/ton, the demand-side digestion is not obvious, and under the pressure of inflation in various countries, downstream buyers are still extra cautious in responding to cost pressures. Under the premise of lack of bright spots in volume and price , the attitude of all parties tends to be conservative.
