November 22, 2008

Austenitic stainless steel prices to stay low through 2008

It is reported that stainless steel prices have had a very turbulent in last twelve months. Since August 2007, cold rolled coil type 304 transaction values in North America have dropped by approximately USD 1650 per tonne, EU figures have plunged by over USD 1150 per tonne and Asian numbers have moved down by almost USD 800 per tonne.

Hot rolled coil and plate recorded similar declines in all regions, with the exception of Europe where basis values for plate reduced by a greater amount. A steep descent in the cost of nickel on the LME was the main cause of the decreases. Bigger falls were noted in grade 316 transaction prices.