Posted on 15/10/2017 in category Stainless

BIR World Mirror on Stainless Steel & Special Alloys - Issue October 2017

Market conditions slightly improved but caution remains necessary

Stainless steel crude output during the third quarter was clearly influenced by seasonal factors as most of the major European producers place maintenance work in this period. As a result, demand for stainless scrap was slightly lower. The price environment remained attractive, with nickel and Fe prices showing significant strength. In general, market conditions improved considerably; whether this continues, the forthcoming weeks and months will provide the only proof.

Recently, the nickel price has undergone a significant correction from over US$ 12,300 per tonne to US$ 10,400. The ferrous scrap price also needs to be watched, mainly regarding its correlation to the iron ore index.

Towards the end of the year, we generally expect a decline in stainless crude output and therefore lower demand for stainless scrap (...)

Joost  van Kleef (Oryx Stainless B.V.),
Chairman of the BIR Stainless Steel & Special Alloys Committee

Read the full market report in our members' area.