WORLD STAINLESS STEEL PRICE FORECAST FROM MEPS
MEPS – World Average Stainless Steel transaction values increased for most
products in September. Higher nickel costs during August helped US and Asian
mills to lift market values. Decreases in EU selling prices were noted for
grades 316 and 430 material because of lower alloy surcharges. There was a
modest improvement in global market activity after the return from the summer
Global demand for stainless steel is expected to grow steadily in the near term.
Attempts by western mills to lift basis numbers may prove difficult as sales
traditionally slow towards the year end. However, customers are likely to
increase purchase volumes later in the fourth quarter for delivery early in
2014. This could result in some upward price movement prior to the New Year.
Confidence should return to the market next year if, as expected, the economic
climate improves. A rise in mill input expenditure is forecast in the first
quarter. Consequently, the first half of 2014 could be the start of a sustained
revival in stainless steel transaction values.
Steel Prices Online MEPS
- World Stainless Steel Prices
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