Metline Industries
Umerkhadi, Mumbai, Maharashtra
SEND SMS
SEND EMAIL
 

News

Steel Price Indicators? Market update

Steel Price Indicators? Market update
   
SHFE rebar prices (May 2014 Contract) have fallen recently on account of weak demand the construction sector in China owing to cold weather in north China.


Iron ore prices have risen in the past two weeks, on the back of supply concerns, as bad weather disrupted iron ore shipments from the Australia and Brazil. Reuters reported that shipments from the three biggest ports in Australia were closed due to an intensifying tropical cyclone, while Brazil’s Vale also declared force majeure on some shipments from its mines because of heavy rains.

 

Transaction remained low in the nickel market, with 3M LME Nickel prices closing at US$14,070 on 30th December 2013, down from US$14,225 on the previous day. Prices are up by around US$600 /MT, on expectations that prices would rally once the export ban in Indonesia is implemented on 12January 2014. Nickel prices would regain momentum as market starts to price in the export ban and demand starts to rise. According to ministry officials from Indonesia, their 2014 mineral output is expected to fall drastically due to ban on unprocessed mineral ores. Currently, the smelting capacity in Indonesia is not sufficient to process the volumes of base metal ores produced by the country.

 

Gains in nickel prices continue to be impacted by concerns of excess supply, with inventories at LME monitored warehouses continuing to rise.

 

In response to a rise in nickel prices in December, Chinese and Taiwanese stainless steel mills have raised the 300 series stainless steel hot rolled and cold rolled prices in the range of US$20/MT to US$50/MT. Prices have been raised by mills, on expectations that nickel prices are unlikely to fall below US$14,000/MT, given the January 2014 export ban of nickel ore from Indonesia and also due to prospective demand from North American and European buyers.

 

Our Key products include:Hastelloy C276 Pipe, Inconel 600 Pipe, Monel 400 Pipe, 904L Pipe, 904L Plate, 310S Seamless Pipe, 317L Pipes, 317L Plates, Incoloy 800HT Sheets, Hardox 400 Plates, Stainless Steel Pipe Fittings.

The Steel Industry Welcomes 2014 on a Positive Note

The Steel Industry Welcomes 2014 on a Positive Note
   
After a weak 2012, demand for stainless steel and nickel alloys in 2013 was again heavily affected by weak global economic conditions. Margins remained tight in 2013, as raw material prices remained high and volatile, while buying prices for stainless steel and nickel alloy finished products remained at to lower. Due to poor steel demand, the pricing power was in the hands of buyers, who preferred to remain cautious when it came to buying in bulk quantities. Also due to lower demand, it was difficult for steel mills to pass on raw material price increases to consumers.
zoomup


Reach Us
Bhavin Jain (Managing Partner)
83, Dr. Maheshwari Road, BIT Chawl No. 7 Umerkhadi, Dongri
Mumbai- 400009, Maharashtra, India



Call Us

Share Us

F GT L


Send E-mailSend SMS