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Weekly Average Price|| Stainless Steel Market Summary in China (9th, Dec. – 13th, Dec)



304/2B: The average price of 2.0*1219*C (slit edge) of ZPSS in the Wuxi market is US$2,045/MT(plus taxes) which is US$11/MT lower than last week and the declining percentage is 0.53%. Besides, the average price of 2.0*1219*C(slit edge) in the Foshan market is US$2,080/MT(plus taxes) which is also US$11/MT lower than last week and the declining percentage is 0.52%.

304/2B: This week, the average price of 2.0*1240*C(mill edge) of Hongwang in the Wuxi market is US$1,950/MT(plus taxes) which is US$19/MT lower than last week and the declining percentage is 2.03%. What's more, the average price of 2.0*1240*C(mill edge) in the Foshan market is US$1,940/MT(plus taxes) which is US34/MT lower than last week and the declining percentage is 1.65%.

304/No.1: The average price of 4.0*1520*C (mill edge) of ESS in the Wuxi market is US$1,800/MT(plus taxes) which is US$26/MT lower than last week and the declining percentage is 1.34%. Furthermore, the average price of 4.0*1520*C(mill edge) in the Foshan market is US$1,840/MT(plus taxes) which is US$13/MT lower than last week and the declining percentage is 2.10%.

316L/2B: This week, the average price of 2.0*1219*C of TISCO in the Wuxi market is US$2,900/MT(plus taxes) which is US$54/MT lower than last week and the declining percentage is 1.71%. Moreover, the average price of 2.0*1219*C(slit edge) of TISCO in the Foshan market is US$2,950/MT(plus taxes) which is US$49/MT lower than last week and the declining percentage is 1.51%.

316L/No.1: This week, the average price of 4.0*1500*C(mill edge) of ESS in the Wuxi market is US$2,570/MT(plus taxes) which is US$81/MT lower than last week and the declining percentage is 2.88%. What's more, the average price of 4.0*1500*C(mill edge) in the Foshan market is US$2,620/MT(plus taxes) which is US$89/MT lower than last week and the declining percentage is 3.06%.

LH/2B: This week, the average price of 1.0*1219*C(mill edge) of the Wuxi market is US$1,085/MT(plus taxes) which is US$1/MT lower than last week and the declining percentage is 0.13%. Besides, the tax-inclusive average price of the Foshan market is US$1,085/MT(mill edge) which increases by US$9/MT compared to last week and the rising percentage is 0.79%.

430/2B: The average price of 2.0*1219*C(slit edge) of TISCO in the Wuxi market is US$1,145/MT(plus tax), which is US$9/MT lower than last week and the declining percentage is 0.74%. The average price of 2.0*1219*C(slit edge) in the Foshan market is US$1,145/MT(plus taxes) which decreases by US$3/MT compared to last week and the declining percentage is 0.25%.

Mills|| Cold-rolled 304 inventory of Tsingshan Indonesia is increasing, which will result in higher imports to China in December

According to the Wuxi Market, Tsingshan Indonesia cold rolling imports to China is on arrival in succession. 0.87-1.2mm cold-rolled 304 stock (on delivery) is given a based price of US$1,900; the gross-based price of 1.21-2.0mm is US$1,905 and that of 2.0-3.0mm is US$1,920. With order larger than 300 tons, it is offered a based price of US$1,900 in even specifications. This quotation is about US$14/MT lower than that of private-owned cold-rolled 304 in the Wuxi market.

Actually, there has been Tsingshan Indonesia cold-rolled stainless steel imports to China since last June. However, restricted by its limited productivity and output, the amount of imports to China has maintained at a low level which was monthly averaged at 3,000 tons in 2018. Since 2019, it has increased to 7,000-8,000 tons per month.   

In September, imports to China peaked at a newly highest point of 11,900 tons, of which 10,500 tons was the trading amount. 

In October, the stainless steel output of Tsingshan Indonesia dropped by around 30,000 tons, leading to decreasing imports to China, which dropped 17,000 tons and there were only 3,800 tons cold-rolled stainless steel imports to China (logistics goods in special customs supervision area).  

Tsingshan Indonesia cold rolling imports to China (Unit: thousand tons)

It is reported that the present cold rolling productivity of Tsingshan Indonesia is about 400,000 tons, officially put into production in the first season of 2018. With the development of production and technique, productivity is releasing. If it is all mobilized, the monthly output can reach 30,000 tons.

The increasing output of cold-rolled products by Indonesia is difficult for the local market to digest, and Indonesian cold-rolled products imports to China are not charged with anti-dumping tax, giving rise to the increase in Indonesian cols-rolled products imports to China.


From the perspective of the present arrival from Tsingshan Indonesian cold-rolled products, the Indonesian cold-rolled products imports to China will keep rising in December. Therefore, judged by the supply so far, the sales pressure is high.

Finance|| Huge good news!  London nickel rose by  US$1,000 and reached US$14,000 after 4-day consecutive rises



Highly focused by the world, Sino-US trade negotiations has brought good news to us. With the joint effort of Chinese and US economics and trading members, based on equality and mutual respect, both parties have reached consistency in the first phase of the Sino US economic and trade agreement.

For duties, the US government has agreed to withdraw the tariff imposed on the remaining 160 billion US dollars on December 15. In the meantime, the duty rate is decreased from 15% to 7.5% that has been imposed on the 120 billion US dollars commodities in September but remains the duty rate of 25% imposed on the other 250 billion US dollars products.

For trading, China has committed that the number of imports, including commodities and services from the US, will be increased to no less than 200 billion US dollars in the future two years (based on commodities and services imports in 2017, and it increased by 50 billion US dollars in 2018).     

Global finreancial markets and businesses all hold up. Last Friday, all stock markets in the world rose generally. The Nikkei Japan was up by 2.55%, the rising percentage of Shanghai and Shenzhen Index was near to 2%. The rising tendency is going to maintain.

The first phase of the Sino-US economic and trade agement is beneficial for both parties, which is the common ground for China and the US in a temporary situation. China's export environment will improve, which is conducive to stabilizing the capital market and the expectations of exporting companies. Besides, it will help import some commodities and ease the high price pressure on domestic agricultural products and other consumer goods.


London nickel had 4 consecutive rises

On last Friday, London nickel remained the rising trend. Friday’s closing price increased by US$205 to US$14,215/MT which broke US$14,000. With the four consecutive rises in the day line, it had increased by US$895 in total. 

For now, the nickel stock is still rising. Technically, the resistance of US$14,700 is to be focused as well as the support of the lower US$14,000 in the short term.


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