Two major Taiwanese stainless steel makers announced significantly lower prices for 300 series products but kept offers stable for 200 and 400 series.
Walsin Lihwa and YUSCO both voiced a TWD 1,500/t (USD 46/t) decline in 304 product prices for November, while 316L grade offers fell by TWD 4,000/t (USD 123/t) over the month. STS flats and longs of the 400 series remained stable. “Chromium quotes decline was not so big. In China, it affected finished steel price just by RMB 50-100 [USD 7-14/t], but Moly price fall pushed 316/318 steel costs down by around RMB1,500-2,000/t [USD 205-410/t],” a representative of the Chinese branch of the Taiwanese company told SMR.
In general, the situation in both Taiwan’s and China’s markets is quite pessimistic. “Domestic demands are insufficient, steel mills have reduced production, and raw material support is weak,” the Walsin sales manager told SMR. Regarding the sharp decline of 316L prices, market sources noted that the tendency would likely last longer, as output cuts at STS mills will push moly prices further down. However, a Chinese moly supplier reported trading improved in this market of China on October 31.
Walsin Lihwa also officially announced stable offers for 200 series rods for November. However, the company has negligible production volumes. “There are almost no orders for 200 series. So, the offer price does not make sense. Chinese mill in Yantai does not produce that at all,” Walsin representative commented on the situation.
Export price changes were traditionally in line with those in the domestic market. YUSCO announced a USD 50/t decline in 304 coils and a USD 120/t price drop for 316L flats, while 430 series coils offer remained at the October level.
Post time: Nov-21-2023
