European mills find it hard to sell to Asia with today's stainless highs
无锡不锈钢市场
2007-4-27 0:07:01
304 CR base price from Europe to Asia for May shipments rises again to US$5,100~$5,300 per ton from April's US$5,000~5,200 per ton. This does not help in orders-booking at all, but almost dries up Asian market for European imports.
To aggravate today's stainless market, inactive with demand drying up, nickel price still hit US$52,375 highest, and landed around US$50,000 last week's LME closing.
It has been the only factor in driving up today's stainless steel prices, global mills are still "discussing/planning" another price hike in May for the fifth time, after raising monthly stainless prices four times in a roll for the past four months since January.
But price hikes must be substantiated with orders booking. With buyers sideling from the market today and the third quarter looming, mills will brace for orders to shrink further in May.
To aggravate today's stainless market, inactive with demand drying up, nickel price still hit US$52,375 highest, and landed around US$50,000 last week's LME closing.
It has been the only factor in driving up today's stainless steel prices, global mills are still "discussing/planning" another price hike in May for the fifth time, after raising monthly stainless prices four times in a roll for the past four months since January.
But price hikes must be substantiated with orders booking. With buyers sideling from the market today and the third quarter looming, mills will brace for orders to shrink further in May.
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