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Weekly Average Price|| Stainless Steel Market Summary in China (6th, May –9th, May)

Market Closed, Out of Stock and Less Raw Material. The Price is Rising!


304/2B: The average price of 2.0*1219*C (slit edge) of ZPSS in the Wuxi market is US$1,855/MT(plus taxes) which is US$27/MT higher than last week and the rising percentage is 1.39%. Besides, the average price of 2.0*1219*C(slit edge) in the Foshan market is US$1,895/MT(plus taxes) which is also US$27/MT more than last week and the increasing percentage is 1.36%.

304/2B: This week, the average price of 2.0*1240*C(mill edge) of Hongwang in the Wuxi market is US$1,800/MT(plus taxes) which is US$34/MT higher than last week and the rising percentage is 1.83%. What's more, the average price of 2.0*1240*C(mill edge) in the Foshan market is US$1,810/MT(plus taxes) which is US$45/MT higher than last week and the rising percentage is 2.40%.

304/No.1: The average price of 4.0*1520*C (mill edge) of ESS in the Wuxi market is US$1,760/MT(plus taxes) which is US$46/MT higher than last week and the rising percentage is 2.58%. Furthermore, the average price of 4.0*1520*C(mill edge) in the Foshan market is US$1,770/MT(plus taxes) which is US$29/MT more than last week and the increasing percentage is 1.56%.

316L/2B: This week, the average price of 2.0*1219*C of TISCO in the Wuxi market is US$2,655/MT(plus taxes) which is US$25/MT more than last week and the increasing percentage is 0.89%. Moreover, the average price of 2.0*1219*C(slit edge) of TISCO in the Foshan market is US$2,695/MT(plus taxes) which is US$14/MT higher than last week and the rising percentage is 0.5%.

316L/No.1: This week, the average price of 4.0*1500*C(mill edge) of ESS in the Wuxi market is US$2,470/MT(plus taxes) which is US$32/MT more than last week and the rising percentage is 1.23%. What's more, the average price of 4.0*1500*C(mill edge) in the Foshan market is US$2,495/MT(plus taxes) which is US$18/MT higher than last week and the rising percentage is 0.67%

201/2B: This week, the average price of 1.0*1219*C(mill edge) of the Wuxi market is US$1,005/MT(plus taxes) which is US$20/MT more than last week and the increasing percentage is 1.95 %. Besides, the tax-inclusive average price of the Foshan market is US$1,005/MT(mill edge) which increases by US$29/MT compared to last week and the increasing percentage is 2.86%.

J2, J5/2B: The average price of 1.0*1219*C(mill edge) of the Wuxi market is US$985/MT(plus taxes) which is US$20/MT higher than last week and the rising percentage is 2.05%. Besides, the tax-inclusive average price of the Foshan market is US$990/MT(mill edge) which increases by US$29/MT compared to last week and the rising percentage is 2.99%.

430/2B: The average price of 2.0*1219*C(slit edge) of TISCO in the Wuxi market is US$985/MT(plus tax), which is US$9/MT lower than last week and the declining percentage is 0.9%. The average price of 2.0*1219*C(slit edge) in the Foshan market is US$990/MT(plus taxes) which decreases by US$7/MT compared to last week and the declining percentage is 0.72%.


Raw Materials|| The price is climbing at a firm pace, pyramiding twice within a month.



This week, the molybdenum concentrate price rose significantly for the second time. The mainstream concentrate price increased by $10/MT of metal contained; the 47% grade of ore climbed to $310/MT of metal contained; the 40%-45% concentrate price went up to $300/MT of metal contained - $305/MT of metal contained.

Influenced by the ore price, the EXW price of the molybdenum increased by $490/60 base ton, ascending to $13,940/60 base ton. Even more, some mills raised the price to $14,200/60 reference ton. 

The price of molybdenum has boosted within a month. The last increase dated in late April, increasing by $10/ MT of metal contained per day. Since late April, the molybdenum concentrate price has increased by $29/ MT of metal contained which has a rising percentage of 14.29%. Also, the price of Ferro molybdenum has increased by $1,390/60 base ton and the increasing percentage is 10.20%.  

With the price keeps rising, lately, the domestic mainstream mills also lift their bidding prices. After the International Labor Day, the mills that are purchasing are Dalian Ess and Shan Steel. The former gives out the latest May bidding price for the Ferro molybdenum of $13,560/MT(Acceptance) which is $357/MT higher than last round(the price was $13,240/MT). The latter( Shan Steel) increases the bidding price of Ferro molybdenum in May to $13,275/MT(Acceptance and tax inclusive).

Moreover, Tsingshan, HBIS, and CSSC increase the price as well. Tsingshan’s lastest May purchasing price for the Ferro molybdenum increases to $13,685/MT (tax inclusive, cash) for an amount of 500 tons; HBIS adjusts the price to $13,430/MT(Acceptance) with 200 tons of purchasing amount. As for CSSC, it is ready for the 60 tons purchasing plan, in which the molybdenum bidding price is $13,725/MT. 



Increasing by $86/MT per day, 304 stock price heads for $1,900/MT. 



Since last week, people had been saying that the 304 prices would rise on May 12th. As predicted, the LME Nickel and the stainless steel futures price both increased. The moment LME Nickel opened, the price climbed for $205 and once even reached $12,500 which is a peak of the previous time. Until noontime, it rose $110 and reached $12,405/MT.
 
Checking the stainless steel futures which are again going crazed. The MOC at night increased by $43 and reached to $1,830/MT. On 12th May, the price increased by $43/MT as soon as the order opened. The biggest increase was $86 in a day, heading to $1,865, which hits the new highest rebound of this round. Until the order closed at noon, the price increased by $67/MT.  
 
 

304 price rose twice in the morning, running towards $1,900!



On 11th May, the 304 agents and traders of Wuxi and Foshan all shared the same opinion that although the mills are sending out products that mostly belong to product delivery for the former orders, the current stock is still in a limit. It finally leads to a rise in price.  
 
On 11th May, along with the futures stock rising greatly, the stock market adjusted its price for the second time. Until noon, the coll-rolled slit edge reference price by Tisco, Jisco went up to $1,900/MT in Wuxi. Delong, Chengde changed the four feet mill edge reference price, increasing to $1,815/MT. Yongjin and Hongwang also rose the four feet mill edge reference price to $1,835/MT.


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