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Prices on stainless steel in anticipation of a "second wave"

19 August 2011
Prices on stainless steel in anticipation of a

Despite the predictions on the next wave of the crisis, manufacturers of stainless steel from Asian countries to slow down the pace of production of its products not going. Recall that the part of major Chinese steel mills raised the price of «September» stainless steel back in late July and early August. And for the past 7 days to the group of «expensive» manufacturers joined several plants, including «Beijing Shougang Co Ltd», «Wuhan Iron & Steel Co Ltd» and «Baosteel». A similar statement was received from the Hong Kong trading company «Smart Timing Steel Ltd».Without negative dynamics, and the situation looks in stainless steel market of the EU countries (by opinion of analysts, mainly due to strong domestic consumption of alloyed metal in mechanical engineering). In spite of higher price of local steel (500−600 dollars per ton more expensive than the Asian manufacturers), the preference of European consumers still give products of local factories. Market operators are optimistic, however, with a high degree of probability to predict further price movement on a stainless steel Analytics are not yet at risk. In their opinion, the situation in the future will depend on the plot twists in the global financial markets, using the commodity exchange (including the Nickel sector, which affects the price of stainless steel) as one of the investment instruments.

18 August 2011
22 August 2011