SteelOrbis Shanghai
Due to the fall in nickel costs, Shanxi Province-based Taiyuan Iron and Steel (Group) Co. Ltd (TISCO) has cut the ex-factory prices of its stainless steel products by a considerable margin.
1) CR stainless coil
The prices of the 304 and 321 series have been cut by RMB 2,500/mt ($342/mt) from the December levels. Thus, SUS 304/2B 2.0 mm coil now costs RMB 31,900/mt ($4,370/mt), while SUS 321/2B 2.0 mm coil is worth RMB 44,700/mt ($6,123/mt). The price of the 316 series has been reduced by RMB 3,000/mt ($411/mt), and so the current price of ASTM 316L/2B 2.0 mm coil is RMB 57,200/mt ($7,836/mt). Meanwhile, the 430 series has seen an increase of RMB 100/mt ($14/mt), and therefore SUS 430/2B 2.0 mm coil is now priced at RMB 13,100/mt ($1,795/mt).
2) HR stainless coil
The price reduction in each HR stainless coil grade is the same as the reduction in the corresponding grade of CR stainless coil. As a result, the price of SUS 304/No.1 3-12 mm coil has been lowered by RMB 2,500/mt ($342/mt) to RMB 29,900/mt ($4,096/mt). ASTM 316/No.1 3-12 mm coils now cost RMB 54,300/mt ($7,438/mt), i.e., a drop of RMB 3,000/mt ($411/mt). SUS 430/No.1 3-6 mm coils have decreased RMB 100/mt ($14/mt) to RMB 11,500/mt ($1,575/mt). These prices are on mill edge basis.
The price of the 304 series has dropped by RMB 2,000/mt ($274/mt), while that of the 316 series is down by RMB 2,500/mt ($342/mt). Consequently, SUS 304/No.1 10 mm is worth RMB 31,600/mt ($4,329/mt), while AISI 316L/No.1 10 mm costs RMB 55,800/mt ($7,644/mt).
The price of the 304 series has been reduced by RMB 2,500/mt ($342/mt) while that of the 316 series is down by RMB 3,000/mt ($411/mt).
The above prices include VAT and take effect as of January 1, 2008.