You are here: View by month
- August 2011
- July 2011
- June 2011
- May 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- April 2009
- March 2009
- February 2009
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
Latest Stainless Steel News 21/04/2010
Wed 21 Apr 2010
European stainless sheet market could be overheating
The European flat rolled stainless steel market is slightly overheated at the moment and is leading to concern that the continuous increase in base prices could come to an abrupt end, especially as mills extend lead-times into traditionally quieter summer holiday months.
Whilst mills are only achieving modest base price increases of €30-50/tonne each month, transaction prices have been rising very fast due to higher alloy surcharges on austenitic grades.
The general consensus is that most of the current demand is probably due to fast rising transaction prices, especially as there are more increases to come in May.
Distributors and stockists are tending towards careful and modest forward buying to avoid higher costs. Supply chain inventories are said to be more or less right for market conditions. Actual end-use demand is improving, but at a slower pace with much variation by sector.
TISCO raises stainless prices this week
China's largest stainless steelmaker, TISCO, has raised its 304 and 430 domestic stainless list prices by RMB 500/tonne ($73/t) and RMB 200/t ($29/t) respectively.
The producer's stainless steel output surged 45% year-on-year in the January-March quarter and reported output was 713,400MT in the first quarter. The big increase is to be expected given that output was low last year. Production is likely to continue at the same rate in the second quarter. Meanwhile, TISCO's stainless exports surged almost five-fold in the first quarter.
Stainless steel prices to rise further in May
Three-month nickel prices on the London Metal Exchange finished at $27,290/t on 20 April, up $1785/t from a week ago and reaching the highest level in the recent two years. It is estimated that higher raw material price would help the stainless steel price to go up further in May although the nickel price maybe fluctuate a little.
Due to higher nickel and raw materials prices, Yieh United Steel Corp. and Tang Eng have announced to lift the 300 series stainless steel price by US$150-200/ton for the second half of April.
