Stainless steel coil sales rose in September in the United States and Europe. This was largely due to the rise in nickel prices on the London Metal Exchange during the reporting period.
European stainless steel makers were also aiming for benchmark price increases in September and, in most cases, little gains were made. Consequently, the EU countries are likely to seek further price increases. However, considering the October surcharges, the nickel price on the LME has risen significantly. This will likely lead to an increase in the price of 300 series stainless steel in November.
Raw material costs, especially nickel, led to fluctuations in stainless steel prices for much of 2016. Market observers predict, for some time, that demand will exceed nickel production in the medium term. Although LME stocks have been at historically high levels, they are on a bearish curve this year and hit a two-year low this week. In addition, a government environmental audit in the Philippines led to the shutdown of 10 mines.
This situation has attracted speculators to the nickel commodity market and is likely to lead to a steady rise in metal prices.
Reduced Nickel Supply Increases Stainless Steel Price - MEPS
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Azovpromstal® 5 October 2016 г. 10:52 |
