CHINA October 05 2016 5:33 PM
TOKYO (Scrap Register): The demand for hot rolled stainless steel is steady in Japan and the outlook is fair. Business is relatively quiet, in Taiwan. The mills have reduced their prices, slightly, in an attempt to boost sales volumes, according to MEPS.
In China, supply was reduced, a little, when production was paused, at a number of plants, during the G20 summit, in Hangzhou. Demand is subdued but is expected to increase during the final quarter of 2016.
Sales of cold rolled stainless steel are healthy, in Japan, and this situation is expected to persist, in the near term. South Korea’s Posco announced higher domestic list prices, as cuts to Chinese production reduced the volume of material in the regional market.
In Taiwan, business activity was steady, in September. Supply chain participants expect sales volumes to pick up, in the medium term. Purchase tonnages are mediocre, in China, but market prices, in the local currency, rose slightly, due to increased raw material costs. Demand is predicted to improve, during the autumn.
Source: MEPS