Stainless steel forecast 2007

World production of stainless steel is forecast to reach 29 million metric tonnes in 2007 [crude steel equivalent], according to projections just published by MEPS

This forecast represents an increase of just 2.2% on 2006 output. Orders seems few and far between as stocks are consumed, and as purchases are delayed in anticipation of surcharges tumbling in the coming months, as alloy metal prices fall.

For full MEPS article (including regional stainless production forecasts) see http://www.meps.co.uk/editorial8-07.htm.

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Nickel prices

For anybody interested in stainless steel pricing, you may wish to note that nickel prices have been tumbling in recent months.

Current nickel prices are comparable to prices about 12 months ago, and the LME price has fallen over $20,000/tonne from its peak in May 2007. You will find daily nickel prices for the last 12 months at http://www.steelonthenet.com/charts.html

Cash is king again, I guess.

blogger@steelonthenet.com

Declining steel prices [MEPS]

MEPS Consultants today report that world steel product prices declined in July faster than anticipated - mainly as a result of decreases in EU and North American flat product prices. The consultancy forecasts reasonably stable pricing into early 2008, suggesting that price increases in the North American market are likely to be offset by reductions in the EU.

MEPS also consider that a significant pick up will take place later this year in the North American flat products sector after the current destocking phase. Prices in this region are unlikely to attract imports to slow the escalation in the medium term. According to MEPS, both flat and long product prices in the EU are forecast to retreat over the next six months from their dizzy heights in 2007.

For original report, visit http://www.meps.co.uk/steel%20price%20forecast%20composite7-07.htm

blogger@steelonthenet.com

Time for a steel pricing correction?

According to Daily News Analysis India, corrections are imminent for steel pricing worldwide. After three consecutive months of falling Chinese steel exports, the stage is set for increases in international steel prices, especially in India. According to DNA India, the China Iron and Steel Association confirms that the recent trend in moderating Chinese steel export volumes is expected to continue through the year.

This reduction in steel supply volumes is to be accompanied by reduced steelmaking output in America. The report observes that recent production cuts in the USA are likely to allow price rises in the coming months.

For original article, see http://www.dnaindia.com/report.asp?NewsID=1115154.

blogger@steelonthenet.com