Weekly Report 3.22-3.26 –Yantai Oriental 2

NICKEL NEWS

Nickel Trend: The three-month futures price of nickel on the London Metal Exchange (LME) slided greatly by US$410/ton on March 23, closing at US$16,045/ton, and rebounded US$240/ton on March 26, the spot price also surged by US$275/ton to US$16,445/ton. Finally, the nickel price increased 160USD in this week, closing at US$16,410/ton. Reason: According to market participants, nickel became weaker as the US dollar performed stronger and China’s inactive purchases. However, Nornickel’s downward forecast of metal output due to the suspension of its two mines, so the supply became tighter, and the future nickel price was expected to stop falling and stabilize.

STEEL NEWS

TAIWAN: Taiwan’s new prices of stainless steel for April delivery will be released next week. Due to the weak raw material supply and cooling buying sentiment, the current market performance is supported by export sales. The number of overseas orders received by the steel mills was better than that of domestic orders. There were different views towards the April price of stainless steel from the upstream and downstream, and the main customers also had some other views. The industry participants predicted that the price decline will certainly come, but the question was that how to let the customers be willing to continue the orders. Some industry practitioners analyzed that in consideration of maintaining the market stability and avoiding the expansion of inventory, the market price will be decreased but some project discount will be given based on the actual order situation.

COLD ROLLED PRICES

TISCO :
304 2B, Slit Edge, 2.0MM – 3.0MM * 1219/1500MM *C, FOB CHINA: 2370USD/MT; (Offered Sizes: Thickness 0.3MM – 3.0MM) 430 2B, Slit Edge, 2.0MM – 3.0MM * 1219/1500MM *C, FOB CHINA: 1520USD/MT; (Offered Sizes: Thickness 0.3MM – 3.0MM)

HONWGANG:
201J1, 2B, Mill Edge, 0.85-2.5MM *1240MM *C, FOB CHINA: 1345USD/MT; (Offered Sizes:0.25MM -3.0MM) 201J2, 2B, Mill Edge, 0.85-2.5MM *1240MM *C, FOB CHINA: 1300USD/MT; (Offered Sizes:0.25MM -3.0MM)

LISCO:
430 2B Mill Edge 1.5-2.0MM *1219MM *C FOB CHINA: 1410USD/MT (Offered Sizes:0.3MM -3.0MM)

HOT ROLLED PRICES

TISCO:
304 NO.1, MILL Edge, 2.5MM -10.0MM *1219/1500/1524MM *C, FOB CHINA: 2270USD/MT; (Offered Sizes: Thickness 2.0MM – 16.0MM)

ESS:
304 NO.1, MILL Edge, 4.0MM -6.0MM *1500MM *C, FOB CHINA: 2215USD/MT; (Offered Sizes: Thickness 4.0MM – 16.0MM)

DELONG:
304 NO.1, MILL EDGE, 3.0-10.0MM *1240MM *C, FOB CHINA: 2215USD/MT;