Taiwanese stainless steel bar market sluggish but Russian stainless steel long
The nickel prices at LME dipped to the three month low of USD 18,900 per tonne on March 7th 2012. Also, the nickel prices have dropped by around 10% since February, causing stainless steel mills cut the prices or reduce production to pass this tough period.
Reportedly, the Taiwanese stainless steel bar market remained sluggish last week, affected by dropped nickel prices and soft demand. It is known that Taiwanese stainless producers cut the domestic prices by TWD 2,000 per tonne for March 2012. For the prospect, industry insiders indicated that the stainless steel market might remain weak in the short term unless the demand rebounds and nickel prices rise.
But in Russian, According to SpetsStal's appraisal, the aggregate volume of stainless steel long products produced in Russia in 2011 rose by 3.1% YoY to 40,008 tonnes as compared to 2010. At that, the making of longs decreased by 4.8% YoY down to 32,459 tonnes, while the output of tube billets rose by 34% YoY to 6,283 tonnes. The grade wise structure of STS longs output, mainly, was formed by austenitic grades with a share of 59.1% (in 2010 - 57.2%). The grade wise structure of tube billet output was also shaped by austenitic grades with a share of 91.6% (in 2010 - 77.8%).
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