Stainless Steel Market update
As forecast in our previous market update in October
“An upturn in selling figures is anticipated for early in 2011. Raw material costs are expected to climb. This should help to boost market activity as customers buy ahead of perceived price increases. Low production volumes could result in some shortages developing. Consequently, stainless steel values are forecast to climb through to the middle of next year”
Stainless Steel prices continue to increase with a combination of stronger demand and higher commodity prices. European surcharges of now risen by 274 Euros (376 USD) for 304 / 1.4301 since December and even more for 316 / 1.4404 material.
Since these price where released last week nickel has continued to gain strength reaching 8 month highs over $27,000 per tonne.
Market demand is much stronger throughout Europe, US and the Middle East especially in the oil & gas sector. Increases are being added throughout Europe, US and Asia the higher prices are expected to remain at least into the second half of 2011. This will affect stainless steel cladding, banding, seals, screws, toggles and rivets which are all expected to rise in price.
Other metals including Galvanized Steel, Aluminized Steel and Aluzinc are increasing faster than stainless steel due to record highs of both Iron & coking coal for their manufacture. These commodities affect stainless steel but not by as much these rises have been contributed to by the shortage of supply caused by the Australian floods.
If you have any requirements please contact us and we will endeavor to support you to reduce the impact of any price increases and supply scheduling. Alternatively we will be attending Gastech 2011 in Amsterdam March 21st – 24th if you are attending why not drop by and meet us.