Friday, December 22, 2006
WORLD AVERAGE STAINLESS STEEL PRICES
MEPS STEEL NEWS
In the short term we forecast stainless steel prices moving even higher, due to further nickel price rises on the LME during December. This gain will impact on transaction values into the second quarter of 2007. March should be the highest month with cold rolled 304 transaction figures reaching almost $US4,900 per tonne and grade 316 figures topping $US7,300 per tonne. In the longer term, we expect stainless selling values to decline as nickel prices reduce and the US economic slowdown begins to take its toll on stainless consumption in the US
In the short term we forecast stainless steel prices moving even higher, due to further nickel price rises on the LME during December. This gain will impact on transaction values into the second quarter of 2007. March should be the highest month with cold rolled 304 transaction figures reaching almost $US4,900 per tonne and grade 316 figures topping $US7,300 per tonne. In the longer term, we expect stainless selling values to decline as nickel prices reduce and the US economic slowdown begins to take its toll on stainless consumption in the US
Labels: nickel
