Stainless steel industry news

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World stainless steel production 2009 - 2010

MEPS today report that global crude stainless steel production for 2009 turned out at 24.6 million tonnes, a fall of 5 percent compared with 2008.

MEPS also observe that total stainless steel output for the first quarter of 2010 will be around 7.5 million tonnes . This figure is a remarkable 54.6 percent higher than the outturn for the first three months 2009, which marked the low point of the recent downturn.

With corrections for stock levels, MEPS forecast for global stainless steel output in calendar year 2010 is ~28.5 million tonnes, which would exceed the previous record outturn, in 2006, by 0.3 million tonnes.

For further info, see MEPS' stainless report.

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World stainless steel output to fall

MEPS are reporting that world stainless steel output is to fall in 2009. According to the consultancy, global stainless steel production will come to ~20.8 million tonnes in 2009, which represents a production fall of around 20 per cent from 2008 levels. The Western world figure (excluding China and Russia at 13.5 million tonnes will be the lowest production figure since 1994 - and indicate the third consecutive annual decline in Western stainless steel output.

You can read more at http://www.meps.co.uk/editorial04-09.htm

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Russian Steel - one step forward, two steps back?

Well, after all the progress made in the last decade (or two) with restructuring, modernisation and privatisation of the steel sector in Russia, it seems that the regulators have been taking several steps backwards in recent months. News reports are circulating about the creation of a NewCo called Russpetsstal [sometimes spelt Russpetstal] which is a newly-formed Holding Company for Russia's special steel production assets.

In the RusSpetStal ownership so far is the Red October Works, a producer of stainless steel which the Holding acquired last year. Rumours abound concerning entry into RusSpetStal of MMK [Magnitka, or the Magnitogorsk Metallurgical Kombinat]. Perhaps more probable are industry rumours about Mechel [also known as the Cheliabinsk Steel Works] whose special steel assets would be 'welcomed' in the new Group. Driving all this change is a firm called Rosoboronexport, which is a State-owned firm involved in the Russian defence sector.

For more on this story, see http://www.russiaprofile.org/page.php?pageid=Business+New+Europe&articleid=a1195715889.

After Venezuela, now Russia ...

Just as the steel industry was starting to look healthy again, perhaps 2008 will be remembered as the year of renationalisation?

blogger@steelonthenet.com

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.

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