The European Union has announced that exports of stainless steel fasteners from Taiwan that were already subject to anti-dumping measures, may apply to the European Commission to be added to a list of cooperating companies subject to a lower weighted average duty rate of 15.8%.
However, the amendments only applied in Taiwan, not Chinese exporters. The EU reimposed the import duties as high as 27.4% on stainless steel fasteners for another five years in January 2012.
Nickel Jumps on the LME Again
The nickel 3-month price saw the biggest increase at 3.4 percent on the LME, finishing at $18,975 per metric ton for Friday, August 8. On the LME, the spot price of nickel price jumped 3.2 percent to $18,850 per metric ton. The Indian nickel cash price increased 0.2 percent to INR 1,164 ($18.99) per kilogram.
Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,347) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,527) per metric ton.
The Allegheny Ludlum 316 stainless surcharge saw little movement at $1.28 per pound. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,000 ($4,219) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,661) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,612) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,661) per metric ton.