Posted: September 5th, 2013 | Author: Pascal Blanc | Filed under: China, Commodities, Metals, Stainless Steel, Steel | Tags: china steel, stainless steel, steel, steel index, steel inventory, steel output, steel price, steel production | No Comments »
Steel reinforcement-bar or rebar advanced 10 percent to 3,735 yuan on the Shanghai Futures Exchange since reaching this year’s low on June 14 and may extend the rally to 20 percent by the end of 2013, meeting the common definition of a bull market according to a Bloomberg News survey of analysts.
In August this year, the purchasing managers’ index (PMI) of China’s steel sector increased to 53.4 percent, up 0.9 percentage points month on month, as announced by the China Steel Logistics Committee which is part of the China Federation of Logistics and Purchasing.
Also, the new order index for China’s steel sector stood at 57.9 percent, up 0.6 percentage points compared to previous month. Meanwhile, the export order index was stable month on month.
Read the rest of China: Steel prices toward a bull market » » »
Posted: May 31st, 2012 | Author: Rod Sherkin | Filed under: Metals, Stainless Steel | Tags: metal, nickel, stainless steel | No Comments »
Nickel fell 12 percent this year on prospects for the biggest surplus since 2009. Morgan Stanley now predicts the glut will peak in 2012 and Barclays says prices should rally toward the end of the year on strengthening demand from stainless-steel makers, the biggest consumers.
The rebound may not happen until then as China runs down record ore stockpiles accumulated in anticipation of the Indonesian ban.
After slumping more than any other industrial metal, analysts and traders say the worst may be over for nickel as restrictions on shipments from Indonesia, the biggest producer, diminish a worldwide glut.
via Nickel Slump Seen Ending as China Faces Ore Import Curbs – Bloomberg.
Posted: January 17th, 2012 | Author: Rod Sherkin | Filed under: Stainless Steel, Steel | Tags: stainless steel, steel | No Comments »
Over the past few weeks, nickel prices have escalated by 10 percent. Chromium prices are expected to follow a similar pattern. Scrap costs are increasing. These factors are predicted to lead to stock replenishment by both distributors and end users as they attempt to buy ahead of higher stainless steel prices resulting from rising mill input costs.
MEPS forecasts that its benchmark, type 304, cold rolled Stainless Steel World Price will increase by $US850 per tonne over the next six months. The gain is expected to be driven by a combination of rising input costs and inventory building in the supply chains around the world
via Stainless steel prices to rise 25% in 2012 – MEPS.
Posted: July 3rd, 2011 | Author: Rod Sherkin | Filed under: Metals, Stainless Steel | Tags: stainless steel | No Comments »
Reportedly, stainless steel buyers tend to hold orders and avoid higher stock this quarter as nickel prices fall to USD 22,000 per tonne from February.
Poor stainless steel demand takes less chrome and molybdenum, leading to weaker stainless prices. Major stainless steel mills also decreased the demand for nickel, chrome and could stimulate further falls in surcharges.
Mr Markus Moll MD of SMR Steel and Metals Market Research said that stainless output has reached pre crisis level, yet China has become the net exporter of stainless.
via Steel Guru : Stainless steel buyers tend to hold orders on down nickel prices.