- Stainless steel offers to Korea by regional suppliers show wide variations
- Importers stay cautious due to high costs, holiday lull, inventory overhang
SteelDaily: October stainless steel offers for Korea from China, Taiwan, and Indonesia have emerged, with wide price variations by origin. Taiwanese mills set the lowest 304 cold-rolled offers at $2,000/t CFR, while Chinese and Indonesian suppliers quoted higher at $2,080-2,100/t. However, buyers expect actual contract prices to settle lower amid weak domestic demand and a strong dollar, with the won-dollar rate nearing 1,400. Indonesian supply, despite being costlier, may face order surges from Europe and Taiwan that could delay shipments to November, limiting appeal in Korea.
Industry estimates suggest Q4 floor prices at $1,890-1,900/t, while October offers sit $100-180 higher, driven by stronger raw material costs, tariff waiver expectations, and Chinese production cuts. Yet momentum in China’s domestic market has cooled as demand falters. Regional trading levels for 304 CR are assessed at $1,900-1,950/t CIF, leaving Korea’s October offers roughly $50-130/t above nearby markets.
Korean importers remain cautious, constrained by high import costs, inventory overhang, and the October holiday lull. Market sources note that buyers prefer selective procurement to maintain supplier ties, rather than locking into higher-priced contracts. Domestically produced 304 CR is quoted at KRW 3.3-3.35 million/t, while imports are assessed at KRW 2.8-2.91 million/t depending on origin. Despite recent hikes by major mills, demand recovery remains elusive, keeping sentiment subdued.
Note: This article has been published in accordance with a content exchange agreement between SteelDaily and BigMint.
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