STAINLESS STEEL OUTPUT increase due to upward trends in LME Nickel price
By Benny
Posted on : 3/5/2010
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The Nickel based stainless steel export prices are expected to be raised in April by the second quarter of 2010 from the low level in 2009
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The Nickel based stainless steel export prices are expected to be raised in April by the second quarter of 2010 from the low level in 2009. Korea and Taiwan are paying close attention to Posco’s price. The price for nickel based stainless steel will be increased to US$150/ton based on their calculation.
The upward trends in LME Nickel price will make the price for LME’s Nickel to climb above US$22,000/ton in March and is expected to increase further. Due to this soaring price of Nickel some Japanese traders showing continuous interest in buying stainless less steel and wants to raise their export price in the second quarter by US$100-200/ton. However Asian buyers are delaying their import of stainless steel.
Owing to continuous raising upward growth in LME nickel price, the price can increased to over US$22,500/ton, reaching the highest level in the recent 18 months. Market participants said that because of the increasing raw material cost, stainless steel price would probably increase further.
STAINLESS STEEL OUTPUT
This year Stainless steel output may climb as much as 15 per cent to 29 million tonnes from 25.2 million tons last year, Ms Collignon said.
According to CRU|: Output in the fourth quarter was 6.8 million tonnes, she said. Stainless steel accounts for about two— thirds of nickel demand.
Ms Collignon said.
“China, the world’s largest stainless steel maker, resumed production to full capacity in January and is expected to boost output by 19 per cent this year, she said. Output will climb 13per cent in Western Europe and by 15 per cent in the US,”
These increasing in price shows there would be a booming again in the stainless steel market.
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About the author:
For the past three years I have been working for RecycleinME
.To help our valued members of RecycleinME, I involved in researching the current
market trend of various scrap materials.
Regards
Benny
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