Latest Stainless Steel News 10/03/2010

Wed 10 Mar 2010

Acerinox raises CR 304 prices

Acerinox, the Spanish-based stainless steel group, has just announced a rise in the prices for its flat products. Base prices for stainless cold rolled flats, 304 grade, are now listed at €1350 per tonne because of higher cost of scrap. This is believed to be an increase of about €200/t.

Acerinox expects to see a recovery in markets in 2010. It has already witnessed significant improvements in demand, which has led to an increase in the company's order book and production rate in first and second quarter.

Nickel stocks falling as stainless output rises Nickel stocks fell by 8,000 tonnes in February following a rise in stainless steel output in the first quarter of 2010. Rising stainless steel orders suggest further strong rises in stainless steel production in the second quarter of 2010.

It is reported that global nickel stocks are at 454,000MT in February, the number are from stocks reported by the London Metal Exchange, producers, consumers and traders.

It is worth noting that drop in nickel stocks has supported recent rally in nickel prices. Nickel prices have moved up by 25% since the start of February to close at $22,765/t on 8 March, the highest level since June 2008.

MEPS Expects Global Stainless Steel Demand To Grow 10% in 2010 MEPS reports that stainless steel prices are likely to keep increasing in the coming months, due to rise of raw materaial costs and improved economy.

In MEPS steel industry research, it states that price increase of nickel as well as the improved demand of stainless steel recently. MEPS estimates global stainless steel demand is likely to grow by 10 percent in 2010.

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