Nickel-based cold rolled
stainless steel sheet price continues its free-fall in
China. The latest level of the Chinese manufacturers' delivery for June price is RMB 26'100/ton ($3'153/ton) for 0.5 mm and RMB 23'500/ton ($2'839/ton) for 2 mm cold-rolled
stainless steel sheet.
The prices even reach $2'700/ton for 0.5 mm and $2'430/ton for 2 mm when VAT is excluded.
The new level of the domestic price is the lowest in
China and below the
manufacturing cost in
Europe. Therefore,
Europe may suspend exporting nickel base
stainless to
China.
Furthermore, POSCO already reduced its nickel based
stainless steel exports to
China excusing the overhaul in June.
Last but not least, the Japanese steelmakers have also cut their
stainless steel exports to
China. It is said that, the recent request of a Chinese delegation visiting
Japan to stop exporting 200 series
stainless steel have also contributed to the decline in addition to the low prices.