ISSF: Stainless Steel Production Up in First Half of 2014

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The International Stainless Steel Forum (ISSF) recently released figures for the first half of 2014 showing that stainless steel melt shop production increased by 10.6% year–on–year to 20.9 million metric tons (mmt). Production increased in all regions except for Central and Eastern Europe.

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The spot price of nickel saw little movement on Wednesday, September 17, remaining at $17,895 per metric ton on the LME. The nickel 3-month price flattened at $18,000 per metric ton after two days of downward movement on the LME. After a couple of days of decreasing prices, the cash price of primary Indian nickel held steady at INR 1,121 ($18.41).

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Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,352) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,612) per metric ton.

The Allegheny Ludlum 316 stainless surcharge saw little movement at $1.26 per pound. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,234) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,671) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,622) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,671) per metric ton.

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