Stainless Steel Me

It seems that prices are increasing for stainless steel all over the world, buoyed up by 12 month highs for Nickel had the LME and a new found confidence for the stainless steel markets we have listed a few extracts below for a snapshot of what is happening

Japan’s stainless steel producers are contemplating offering a price increase of USD 150 to USD 2,800 per tonne CNF in their export deals of nickel based CR sheets for September to October 2009 shipments to Asian destinations, mainly to China. They are expected to start their export negotiations with local customers next week.

For the price increase to offer, the Japanese steelmakers are taking account of two main factors. First, China’s major stainless steel manufacturer Taiyuan Iron & Steel Group Co has executed a major domestic price increase for nickel based CR sheets. Second, European stainless steel producers, too, have executed a considerable price increase each in what they sell.

It is reported that Taiyuan Iron & Steel Co has increased its stainless steel price by CNY 1,000 per tonne for domestic market this week.

European stainless steel mills also raised their stainless steel price. Their nickel base stainless steel price has reached USD 3,030 to USD 3,100 per tonne.

AK Steel said today that it will increase base prices for all 200, 300 and 400 series flat rolled stainless steel products by 6% to 9%, depending upon the grade and product form, effective with shipments on August 30, 2009.

AK Steel said this increase will be achieved through a reduction in the functional discount of two percentage points for cold rolled and hot rolled products. Prices of automotive exhaust grades will increase by $.04 per pound.

So wherever you look prices of stainless steel are on the rise.