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Latest Stainless Steel News 14/04/2010
Wed 14 Apr 2010
TISCO holds stainless list prices for second week
China's largest stainless steel producer, TISCO, is holding its 304 and 430 domestic stainless list prices unchanged for the second week amid fluctuating offer prices in the local market.
Chinese stainless spot prices in south China's Foshan market had been relatively stable over the past two weeks, but some sellers have started lowering 304 offer prices by around RMB 500/t ($73/t). This decline is likely to be temporary as raw material prices continue to rise.
Korean stainless steel production to rise in April
Korea's stainless steel production is expected to rise in April due to recovering demand. Posco, BNG Steel and Hyundai Steel are going to produce 136,000, 21,000 and 10,000 tons of stainless steel products respectively for April.
Meanwhile, they also hike stainless steel prices as Posco increases by 9.2 percent, Hyundai Steel surges its prices of 300 series and 400 series by US$284/ton and US$140/ton respectively.
European ferro-chrome prices pick up as trade activity rises
Ferrochrome trading activity in Europe has increased at the beginning of the second quarter, after a relatively quiet Q1.
The European benchmark FeCr price was settled at $1.36/lb for Q2, which is an increase of 35% from Q1's $1.01/lb.
Prices started moving up in mid-March and we expect them to continue rising. It is expected prices to go as high as $2.25/lb for low carbon material. material.
