Week review the stainless steel market
According to statistics released by the Specialty Steel Industry of North America, the US imported 54,190 tons of stainless steel bar in December 2011, falling by 16% YoY in comparison of 64,514 tons in the same period of a year earlier. Meanwhile, the US' consumption of stainless steel amounted to 191,682 tons in December 2011, rising by 26.6% YoY.
Among them, the imports of stainless sheet and strip totaled 23,197 tons, decreasing by 38.1%; that of stainless steel plate was 13,465 tons, rising by 50.9%; that of stainless steel bar was 12,155 tons, up by 6%; that of stainless wire was 3,175 tons, dropping by 22.3% and that of stainless rod was 2,198 tons, falling by 14.8%, all compared to that in the same period of a year ago.
But South Korean steel giant POSCO announced to remain the March 2012 list prices of its stainless steel products unchanged due to volatile nickel prices, aiming to activate the sluggish market demand. Thus, the company's March 2012 base prices of 300 grade stainless hot rolled coil are at KRW 3.6 million per tonne; that of 400 grade stainless HRC is at KRW 2.04 million per tonne.
For stainless cold rolled coil, its March 2012 base prices of 300 grade stainless CRC is at KRW 3.87 million per tonne and that of 400 grade stainless CRC is at KRW 2.42 million per tonne.
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