Taiwanese and South America’s stainless steel demand remains sluggish
It is reported that Taiwan's stainless steel market has remained quiet even though the stainless steel mills have cut the price for the consecutive four months. Mainland China stainless steel market is good.
It is known that Yieh United Steel Corporation and Tang Eng, the two largest stainless steel producers in Taiwan, announced to cut the domestic prices of 300 grades by TWD 1,500 per tonne for June 2012 shipment.
Industry sources predicted that the Taiwanese stainless steel market would remain sluggish this week due to the uncertain global economy, poor demand and cheap imports.
The CEO of Aperam South America said at Latin American Stainless and Its Alloys Conference held in Rio de Janeiro that the Brazilian and South American stainless steel market would remain weak in the foreseen future.
He added that the Latin American stainless steel bar consumption has remained sluggish after the global economic crisis in 2008-2009 and he predicted that it might keep slack until 2014.
According to statistics, South America’s demand for stainless steel flat products decreased to 340,000 tons in 2009 from 450,000 tons in 2008. It surged to 467,000 tons and 459,000 tons in 2010 and 2011.
However, Brazil which consumes two-third of the stainless steel in South America only shows 2.7% rise in GDP in 2011, will affect the whole Latin American stainless steel market.
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