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13020559675
+86 13020559675
sales01@jianshousteel.com
Tel: +86 13020559675
E-mail: sales01@jianshousteel.com
Address: Huitong International Logistics Park, Liaocheng City, Shandong Province
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+86 13020559675
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National E-mail:
National Hotline:
+86 13020559675
Mobile: +86 13020559675
Email: sales01@jianshousteel.com
Add: Huitong International Logistics Park, Liaocheng City, Shandong Province
The MEPS Asia average prices for grade 304 hot and cold rolled coil, in April, stand at their highest levels since August 2008. The rate of increases has accelerated, in recent months, predominantly driven by rising nickel costs.
However, due to China's COVID-19 lockdown and exchange rate fluctuations, the price of stainless steel in Asia began to fluctuate sharply in April
South Korea
Cold rolled coil prices in South Korea have climbed 17 per cent since the start of 2022 to a 15-year high. Ultimately lead to users unable to recover the cost of stainless steel prices.
Domestic producer, POSCO, recently announced that selling values would remain stable for May, in order to attract and support local customers. However, a rise in June prices is likely, in an attempt to recoup the recent hikes in raw material costs.
Japan
In Japan, flat product prices have risen by 30 percent, year-on-year. Domestic mills achieved increases of around JPY20,000 per tonne for austenitic grades, this month.
Prices now stand at their highest recorded figure since June 2008. Further significant rises, in local currency terms, are anticipated in May, due to the yens devaluation against the US dollar.
Taiwan
The largest rises across East Asia, so far this year, have been registered in Taiwan. Domestic prices of 300-series coil have risen by 63 percent, year-on-year. More than half of this increase took place in the first four months of 2022.
Concern about being left with high-priced inventory is limiting distributors purchasing activity.
China
Although China has recorded considerable price increases since the start of the year, those rises have been curtailed by weakening demand. Since March, the spread of Covid-19 infections has had a significant impact on the countrys stainless steel production and consumption.
Suppliers report difficulties delivering material to customers, due to logistical problems arising from the lockdown restrictions.
Forecast
The MEPS Asia average stainless steel transaction prices are forecast to increase, modestly, next month, in US dollar terms. Movements in domestic values will be varied across the region. Steelmakers will seek to recover their growing input expenditure, with mixed success.
Tel: +86 13020559675
E-mail: sales01@jianshousteel.com
Address: Huitong International Logistics Park, Liaocheng City, Shandong Province
