October 11, 2008

Japanese SS majors to push up CR prices amid week demand

It is reported that Japanese stainless steel CR producers are seeking to increase prices by USD 100 per tonne to USD 200 per tonne in June to July and increase export price as raw material cost are up in tandem with global SS price rises.

But buyers are expected to adopt a wait and watch attitude, as to whether China’s market will remain weak and Japanese SS mills will find it hard to negotiate new export prices with buyers in the Asia market.

China’s main stainless steel producers have announced that that its output will be reduced by 50% in May in order to stabilize the market.

(Sourced from Yieh.com)