ThyssenKrupp May Set Up Steel Plant in Brazil; Nickel 3-Month Price Still Up

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If ThyssenKrupp fails to sell its steel mill in Brazil that it has been trying to let go for over a year, they may be interested in seeking out a partner to set up steel processing in the same country (Reuters).

“ThyssenKrupp has for more than a year been trying to offload its Steel Americas business, comprising the steel slab-producing mill in Brazil and a rolling mill in Alabama…A new processing plant in Brazil could take up the output of slabs that ThyssenKrupp can no longer ship to its plant in Alabama if it finds a buyer for only the U.S. plant, the WSJ Deutschland said.”

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“ThyssenKrupp reiterated that it was in “far advanced” talks with one bidder over the sale of both Steel Americas plants and aimed to strike a deal soon. It is also in talks with other interested parties, it said, without providing details.”

The week’s biggest mover on the weekly Stainless MMI® was the 3-month price of nickel, which saw a 3.2 percent increase on the LME to $14,480 per metric ton. Last week marked the fourth in a row of rising prices for the metal. Closing out the third week of rising prices, the spot price of nickel increased by 3.2 percent on the LME, landing at $14,400 per metric ton. The Indian nickel cash price shifted up 2.7 percent to close this week.

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Chinese stainless steel prices were mixed for the week. Prices for Chinese ferro-chrome remained constant. The price of Chinese ferro-moly did not change since the previous week.

The price of Chinese primary nickel rose 2.6 percent over the past week. Chinese 304 stainless steel scrap remained essentially flat from the previous week. Chinese 316 stainless steel scrap remained unchanged for the week. Chinese 304 stainless coil prices held steady from the previous week. Chinese 316 stainless coil traded sideways last week.

The week finished with no movement for Korean 430 stainless steel coil. Following a steady week, prices for Korean 304 stainless coil closed flat.

The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.