June 2014

China’s spot stainless prices fall on high inventory, weakened nickel

China’s spot stainless steel prices continued to fall this week amid rising inventory levels, coupled with the weakening nickel market.

China's Indonesia pain is stainless market's gain, Jindal exec says

The global stainless market has been largely “relaxed” in the wake of the Indonesia ban, with just China bearing the brunt of the decision to halt export of unprocessed ore, a key industry executive told Steel First.

Chinese stainless steel mills lower NPI prices

Nickel pig iron (NPI) prices in China were down this week as some stainless steel mills cut the price they are willing to pay for the material, even as traders lowered offers on nickel ore to generate cash flow, market participants said.

ESI secures $1.3bn funding to refinance 2010 loans

Emirates Steel Industries (ESI) has secured new credit facilities worth $1.3 billion – almost 5 billion dirhams – with 19 local and international banks, without government guarantees, it announced on Sunday June 8.

STEEL FIRST OUTLOOK: Do more profitable niche products still exist?

What is the economic argument in favour of niche products? Metal Bulletin Research (MBR) investigates.

MB ASIAN STAINLESS CONF: Asia used over half of 2013 long steel

Asia was the largest stainless longs consumer in 2013, with about 55% of the world's production consumed in the region, a senior analyst told delegates at a recent industry conference in Hong Kong.

EU stainless mills still confident about August 304, 316 sheet base price rises

European stainless steel mills continue to be confident about base price increases for grade-304, 316 sheet to be rolled in August, despite a weakening of prices over the past seven days, sources told Steel First.

WEEK-IN-BRIEF: It's all about Qingdao

“It’ll all blow up. Or it’ll all blow over.” That was how the head of one LME brokerage summed up the possible repercussions of the situation in Qingdao at the end of the week.