Prices of East Asia-origin cold rolled stainless coils heading for China have moved higher following increases in the prices of hot
rolled feeds.
Prices of China-bound Grade 304 2mm CR coil 2B from East Asia are noted around $2,600-2,650 per tonne, a $50 per tonne increase from the $2,550-2,600 per tonne seen during the week of 5 December.
Market participants attribute the increase to rising prices and tight supply of hot bands in the Asian market, a situation not expected to ease soon.
“Hot rolled prices may go up a little [for 2005 first quarter] because of tight supply but cold rolled prices may be maintained as
their supply is not as tight,” Posco is expected to announce its January shipment list price for China-bound hot rolled stainless sheets in the week beginning 20 December and an increase is likely (MB December 10 2004).
Prices of Grade 304 HR sheet going to China from East Asia are currently reported around $2,400-2,550 per tonne.
