ASIA STAINLESS STEEL
MARKET ROUNDUP FROM MEPS
According to MEPS, demand for hot rolled
stainless steel is steady in Japan and the outlook is fair. Business
is relatively quiet, in Taiwan. The mills have reduced their prices,
slightly, in an attempt to boost sales volumes. In China, supply was
reduced, a little, when production was paused, at a number of
plants, during the G20 summit, in Hangzhou. Demand is subdued but is
expected to increase during the final quarter of 2016.
Sales of cold rolled stainless steel are healthy, in Japan, and this
situation is expected to persist, in the near term. South Korea’s
Posco announced higher domestic list prices, as cuts to Chinese
production reduced the volume of material in the regional market. In
Taiwan, business activity was steady, in September. Supply chain
participants expect sales volumes to pick up, in the medium term.
Purchase tonnages are mediocre, in China, but market prices, in the
local currency, rose slightly, due to increased raw material costs.
Demand is predicted to improve, during the autumn.
Source: MEPS -
Review - September Issue
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