Taiwanese stainless steel market to fall into price war this weak
Last week, Taiwan stainless steel market was quiet and some distributors cut the price to reduce the stock, making the transaction price drop by about NT$1,000~US$2,000/ton.
Some participants worried to cut the price too much, thus they have already stopped offer and waited the firm target price from the buyers.
Taiwan major stainless steel mills cut the price for October, plus not strong performance of nickel in LME and decreasing price issued by Chinese and South Korean mills, thus Taiwan stainless steel price went down further recently.
Market participants said that the sheet price seemed stable last week, the 304 sheet base price was quoted at NT$74,000~NT$76,000/ton while the 304 coil base price has fallen to NT$68,000~NT$69,000/ton.
With the remaining slack demand, the Taiwan stainless steel market will probably still face big challenge this week.
News Date 11/08/2013 7:56:30 AM reported by Betty Wang
