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Weekly Average Price|| Stainless Steel Market Summary in China (11th, Nov. – 15th, Nov.)

Weekly Average Price|| Stainless Steel Market Summary in China (11th, Nov. – 15th, Nov.)

304/2B:The average price of 2.0*1219*C (slit edge) of ZPSS in the Wuxi market is US$2,125/MT(plus taxes) which is US$31/MT lower than last week and the declining percentage is 1.50%. Besides, the average price of 2.0*1219*C(slit edge) in the Foshan market is US$2,165/MT(plus taxes) which is also US$31/MT lower than last week and the declining percentage is 1.35%.

304/2B: This week, the average price of 2.0*1240*C(mill edge) of Hongwang in the Wuxi market is US$2,040/MT(plus taxes) which is US$37/MT lower than last week and the declining percentage is 1.69%. What's more, the average price of 2.0*1240*C(mill edge) in the Foshan market is US$2,035/MT(plus taxes) which is US44/MT lower than last week and the declining percentage is 2.02%.

304/No.1: The average price of 4.0*1520*C (mill edge) of ESS in the Wuxi market is US$1,945/MT(plus taxes) which is US$54/MT lower than last week and the declining percentage is 2.58%. Furthermore, the average price of 4.0*1520*C(mill edge) in the Foshan market is US$2,010/MT(plus taxes) which is US29/MT lower than last week and the declining percentage is 1.33%.

316L/2B: This week, the average price of 2.0*1219*C of TISCO in the Wuxi market is US$3,065/MT(plus taxes) which is US$40/MT higher than last week and the declining percentage is 1.20%. Moreover, the average price of 2.0*1219*C(slit edge) of TISCO in the Foshan market is US$3,105/MT(plus taxes) which is US$31/MT lower than last week and the declining percentage is 0.93%.

316L/No.1: This week, the average price of 4.0*1500*C(mill edge) of ESS in the Wuxi market is US$2,830/MT(plus taxes) which is US$54/MT lower than last week and the declining percentage is 1.76%. What's more, the average price of 4.0*1500*C(mill edge) in the Foshan market is US$2,865/MT(plus taxes) which is US$54/MT lower than last week and the declining percentage is 1.73%.

LH/2B: This week, the average price of 1.0*1219*C(mill edge) of the Wuxi market is US$1,115/MT(plus taxes) which is US$13/MT lower than last week and the declining percentage is 1.13%. Besides, the tax-inclusive average price of the Foshan market is US$1,100/MT(mill edge) which is US$11/MT lower than last week and the declining percentage is 1.02%.

430/2B: The average price of 2.0*1219*C(slit edge) of TISCO in the Wuxi market is US$1,165, which is US$1/MT lower than last week and the declining percentage is 0.12 %. The average price of 2.0*1219*C(slit edge) in the Foshan market is US$1,155/MT(plus taxes) which maintains the same level of last week.


Dropped by 46%, When will it reach the bottom?

Molybdenum iron decreased by 27.21%, ore concentrate slumped by 46% 

The drop of ferromolybdenum raw material began from the second part of September, lasting for more than two months till now. 60 base molybdenum iron ex-factory price slumped from US$19,429/60 base tons to nowadays US$14,143/60 base tons. In total, it decreased by US$5,286/60 base tons and the declining percentage reaches 27.21%.

Recent Domestic Ex-Factory Price of Ferromolybdenum Trend


Since the second part of September, the price of domestic main molybdenum concentrate has been dived for several rounds plus intermittent small decreases. Until now, it has decreased by US$90/ton, whose declining percentage is up to 46%.

Kept declining since early November, the price of 316L cold-rolled steel in the Wuxi market was down from US$3,115/ton in early November to today US$3,065/ton and even US$3,055/ton partially. 316L hot-rolled steel of private owned mills was US$2,910/ton at the beginning of this month, but it decreased contemporarily to US$2,820/ton. It has dropped amounted to US$100/ton for only half month!  

316L Cold-rolled and Hot-rolled Price Trend in the Wuxi Market


A record low of molybdenum iron bidding purchase price

Currently, the price of molybdenum concentrate has dropped to a record low to the lowest point of two years ago. Therefore, the situation of the cost exceeded the selling price has slightly relieved. Compared to US$13,429/60 base tons in the mid-November of 2017 with the current US$14,143/60 base tons, there is still a gap.

Currently, the price of molybdenum concentrate has dropped to a record low to the lowest point of two years ago. Therefore, the situation of the cost exceeded the selling price has slightly relieved. Compared to US$13,429/60 base tons in the mid-November of 2017 with the current US$14,143/60 base tons, there is still a gap.


Data|| November price of 304 stainless steel getting closed to cost, decreasing percentage of price was larger than that of cost! 

The cost of 304/No.1 is near US$1,940/ton and the cost of 304/2B is about US$2,045/ton, which decreased by US$20/ton and the percentage is 0.9% in comparison to the beginning of this month.

While 304/No.1 selling priced at US$1,945/ton which was US$86/ton lower than that in early November and the declining percentage is 4%; the selling price of 304/2B was around US$2,100/ton, decreasing by US$50/ton compared to the beginning of this month and the percentage is 2.2%.

It can be concluded that since November, the selling price drop of 304 stainless steel was much larger than the cost drop.

304/2B Cost Changes from 2018 to 2019




 

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