Asia stainless steel market

According to MEPS data, demand for hot rolled stainless steel products is stable in Japan and will remain so in the near term. Business in Taiwan is relatively calm. The factories cut their prices slightly in an attempt to boost sales.

In China, shipments fell slightly as production was suspended at a number of factories during the G20 summit in Hangzhou. Demand remains muted but is expected to pick up during the last quarter of 2016.

Sales of cold rolled stainless steel are stable in Japan and this situation is expected to continue in the near future. Posco of South Korea announced higher prices in the domestic market as the decline in Chinese production reduced the volume of material in the regional market.

In Taiwan, business activity was stable in September. Participants in the supply chain expect sales to grow in the medium term. In China, market prices in local currency rose slightly due to higher raw material costs. Demand is forecast to improve during the fall.