Global production of stainless steel decreased by approximately 3% in the first quarter of 2012 compared with the first quarter of 2011.

In the first quarter of 2012, LME inventories fell by approximately 23,000 tons compared with the first quarter of 2011, to approximately 100,000 tons. LME nickel prices in the first quarter 2012 were 27% lower than in the first quarter of 2011. Nevertheless, they rose 8% in the first quarter of 2012 compared with the 4th quarter 2011 to average USD 8.92 per pound.

In the first quarter of 2012, metallurgical nickel production at the Doniambo plant in New Caledonia (14,200 tonnes) rose 9% compared with the first quarter 2011. Moreover, nickel deliveries also rose 8% compared with the first quarter of 2011 to 13,600 tonnes.

Source - Eramet

(www.steelguru.com)