Temporary stability of Asian stainless steel prices

Last week, the mainstream price of East Asia 304/2B2mm stainless steel cold coils was maintained at 2550-2630 USD/ton (CFR). China Taiwan Resources reported at 2630-2700 US dollars / ton (CFR, Southeast Asia), South Korea reported 2550-2650 US dollars / ton (CFR, China). However, traders said that there is still room for bargaining, and the actual transaction price is below $2,600/tonne. It is reported that some South Korea's cold coil exports to China, the transaction price as low as 2,500 US dollars / ton (CFR), but may be more limited trading terms of the transaction price, such as delivery time and so on. However, Japan's resource prices were said to have risen from 2,900-2950 U.S. dollars/tonne a month ago to 2,950-3,000 U.S. dollars/ton, exceeding market expectations. However, given the low prices offered by other countries, Japanese stainless steel exports are limited.

Until the steel mill announces the new quotation, the trader's quotation will remain unchanged for the time being. However, due to weak market demand and low confidence, traders expect stainless steel prices to continue to face downward pressure, and steel mills may drop another US$30-50/t.