Benchmark continues to mirror Chinese prices, Pastour

Dmitry Pastour was disappointed that the first quarter 2018 benchmark price would break the tradition for the last two years and will not follow change of Chinese stainless mills’ tender prices in relative terms. “This has not happened – 1,400RMB drop since September is approximately 16.5% (equivalent to 116¢) vs. actually settled 118¢, or less then 2% deviation,” Pastour pointed out. “Not very logical when the demand is strong ex China and the price is China for Cr has started to pick up and the next month tender will very likely go few hundred RMB up!”
Dimtry not so sure about a January price increase!

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