August 09, 2008

Yusco to cut austenitic prices by in May

It is reported that Taiwan’s largest stainless steel producer Yieh United Steel Corporation will cut 300 series export prices of hot rolled and cold rolled products by USD 50 to USD 80 per tonne in May 2008.

Export prices of grade 430 hot rolled and cold rolled products will be cut by USD 60 to USD 100 per tonne. The domestic prices of austenitic HR and CR products will be cut by USD 286 per tonne, taking the delivered domestic list prices for 304 HR coil and 304 CR coil 2B 2mm to TWD 136,000 per tonne and TWD 142,500 per ton respectively.

Export prices are unavailable. These price cuts are due to the lower nickel prices and the decreased stainless steel demand but have still taken the market by surprise due to the increasing ferrochrome price.

(Sourced from ICDA)