Stainless steel prices expected to rise in 2011
Stainless Steel Prices are expected to rise next year According to the independent consultancy MEPS, 2011 will see increased demand and higher prices for stainless steel. With a seasonal upturn in consumption predicted during the first quarter of 2011. Investors are also likely to return to the nickel market. This is forecast to result in a revival in the price of alloys. MEPS said that “An upturn in consumption from an improving economic climate is forecast to lead to a revival in steel prices during the first half of 2011. Shortages may develop as sales strengthen due to low stock levels throughout the supply chain. Predicted rises in raw material costs will, almost certainly, add to the upward pressure on transaction values. This statement is in line with predictions from several producers of stainless steel.
Scrap costs are likely to weaken in the short term before moving higher in the New Year. Chromium and molybdenum prices are expected to be strong over the next twelve months.