These seem to have put an end to the region's heated price war, sources told Fastmarkets MB on Wednesday January 16.
Prices for 304 stainless cold-rolled coil and hot-rolled coil began to decline in early June 2018 amid intense competition among Asian suppliers
, before bottoming out in late December at their lowest in 18 months.
Fastmarkets MB's weekly import price assessment for 304 stainless 2mm trimmed CRC in East Asia
plunged to $1,860-1,930 per tonne cif on December 19 - its lowest since June 28, 2017, when it was $1,840-1,900 per tonne cif.
But market gloom started to dissipate at the start of this year, with prices improving and trading activity regaining momentum after the year-end lull.
The latest stainless CRC assessment - that for the week ended Wednesday January 16
- was $1,880-1,970 per tonne cif, widening upward by $10 per tonne from a week earlier.