July 05, 2008

TISCO raises stainless steel export offer

It is reported that Taiyuan Steel has increased stainless steel export offers to South Korea for June 2008 shipment.

Quotation for 304 HR stainless steel coil goes at USD 4080 per tonne FOB and that for CR stainless steel coil is at USD 4270 per tonne FOB up by USD 270 per tonne and USD 232 per tonne MoM respectively.

Thus the price gap between HR and CR stainless steel coil has contracted to USD 200 per tonne from USD 250 per tonne. Offer for 430 HR stainless steel is USD 1570 per tonne FOB, cold rolled material at USD 1720 per tonne FOB, up by USD 190 per tonne MoM.

South Korean importer mentioned that price for 300 series stainless steel coil is higher than that of POSCO product, while 400 series product price is KRW 350,000 per ton lower than that of POSCO. Hence there would be more imports of 400 stainless steel products.

The stainless plate is being quoted at USD 4170 per tonne FOB for CMP below 14mm and USD 4450 per tonne for PMP below 30mm.

(Sourced from MySteel.net)