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Latest Stainless Steel News
Wed 24 Feb 2010
Taiwan's stainless steel prices to increase in March As LME nickel price climbed during the Chinese New Year holidays, Taiwan's stainless steel manufacturers are expected to increase their stainless steel price by more than US$200/ton in March.
Meanwhile, Japan's stainless steel manufacturers have raised their price to Asian markets by US$200/ton whereas China's TISCO also raises its price by around US$220/ton. Therefore, Taiwan's mills are likely to adjust their prices accordingly.
It is also expected that Posco will increase its price by 100,000 to 250,000 won/ton in March.
TISCO increases stainless prices after Chinese New Year holiday China's largest stainless steel producer, TISCO, has raised its weekly stainless steel 304 and 430 prices by RMB 1,500/tonne ($220/t) and RMB 300/t ($44/t) respectively. This increase follows higher market prices after Chinese New Year holiday on strengthening of nickel prices.
During the week-long holiday, nickel prices hit $20,000/t and three-month nickel prices on the London Metal Exchange ended at $20,600/50/t on 22 February, about $3,500/t higher than two weeks earlier.
While the surge in nickel prices justifies the rise in stainless steel offer prices, businesses in China are just starting to reopen after the holidays and whether the rise would be accepted by users is still uncertain.
India confirms dumping duties on CR stainless imports India has imposed definitive anti-dumping duties on imports of cold rolled stainless steel from European Union, South Africa, Malaysia, South Korea, Taiwan, China, Thailand, USA and Japan. The duties range from $12.74/tonne for 400-series products from Spain’s Acerinox to as high as $2,254/t for 300-series products from Taiwan.
The decision follows an investigation last year which found that Indian stainless steel producers had suffered material injury as a result of the dumped imports. Provisional duties have been in force since April 2009. Products covered by the duties are CR sheet/strip 600-1,250mm wide and up to 4mm thick, in 200, 300 and 400 series stainless.
