Export prices of cold rolled austenitic stainless steel sheets in the Asian region drop back to USD 2,600 CFR to USD 2,650 CFR which was the level in October to December 2012.
As the LME nickel price dropped from the level of USD 8 to that of USD 7.50, prices of CR austenitic stainless sheets fell in March.
From now on, the domestic prices for April shipment are announced by the Chinese, Korean and Taiwanese mills, and attention is paid whether the export market is dragged down by price down of those mills which is probable.
The surcharges of the US and European mills were lowered for April shipment. With drop of the nickel price, they adjusted their prices linked to the nickel price. The US mills reduced their prices by USD 91 per tonne and the European mills also did by EUR 42 EUR.
Taiyuan Iron & Steel of China is foreseen to cut its prices in April shipment. The company raised its prices by 1,300 CNY in total in January through March this year with price rise of nickel.
As a result, its present list price is 19,800 CNY per tonne to SUS 304.
As the nickel prices returned the level of November 2012, its price is certain to be reduced but it subtle whether the company passes all price rises of nickel from the beginning of this year on to its products.
The Taiwanese mills left their prices unchanged for March shipment but as their prices link to the nickel price, it is certain for them to raise their prices. While, POSCO has adjusted its discount range without change of its list prices. The company is likely to expand its discount range this time as well but it is uncertain to what extent the company will expand it.
Anyway, the market of CR austenitic stainless sheets is sluggish. Considering that the nickel price does not dip below USD 7.40, it is also thought for that bottom to be solidified. Negotiations are in a feeling to be made nervously and the number of inquires are few.
