The Stainless Monthly Metals Index (MMI) rose by 4.3% for this month’s reading, as news of a supply deal by China’s Tsingshan Holding Group helped push the nickel price downward. Sick of not finding good price indexes for stainless steel? Check out the MetalMiner stainless steel should-cost model — detailed price-per-pound info for grade, form, […]
Tag: Stainless Steel
Nickel Continues to Keep Stainless Prices Up, even as LME stocks rise
Stainless steel producers have been caught in a pincer movement over the last year of rising nickel prices but falling demand. It is a counterintuitive situation until you factor in China’s stainless production. Chinese output rose by 4% in the third quarter of last year compared to the rest of the world, which fell by […]
Stainless MMI: Base prices, surcharges continue to increase
The Stainless Monthly Metals Index (MMI) increased by 4.5%, as stainless flat rolled base prices continue to move upward due to extended lead times and limited domestic capacity (following a similar trend with steel prices). Stainless steel producers raise prices Stainless steel producers North American Stainless (NAS) and Outokumpu announced price increases effective for February […]
India proposes to reduce duties on steel, stainless steel products
A budgetary proposal by the Indian government to reduce steel duties has divided the Indian steel sector. India proposes reduction in steel duties In her 2021 budget speech presented in parliament earlier in the week, Finance Minister Nirmala Sitharaman proposed reducing customs duty on imports of semi-flat steel. She proposed cutting the duy for the […]
Bullish China stainless steel market expected to continue in 2021
Stainless steel prices in Asia have plateaued for now. But most suggest this is a temporary slowdown in advance of the Chinese New Year holidays. Thereafter, the market is likely to continue its relentless rise of the last two years. China stainless steel market ramps up output According to ArgusMedia, China’s production, imports and consumption […]
Stainless MMI: Top producer South Africa proposes chrome export tax
The Stainless Monthly Metals Index (MMI) increased by 5.3% for this month’s index value, as this month we touch on Chinese stainless production, South Africa’s proposed chrome export tax and more. Upcoming negotiation on your stainless steel buy? Make sure you know how your service centers will negotiate with you. Chinese stainless steel market The […]
Stainless MMI: U.S. stainless imports surge as surcharges move up again
The Stainless Monthly Metals Index (MMI) decreased by 3.8% for this month’s index value, as U.S. stainless imports surged last month. Do you know the five best practices of sourcing metals, including stainless steel? U.S. stainless imports rise 76% The U.S. Department of Commerce reported the U.S. imported a total of 91,600 metric tons of […]
This Morning in Metals: Moody’s steel outlook upgraded to stable
This morning in metals news: investor service Moody’s upgraded its global steel sector outlook from negative to stable; the E.U. slapped duties on stainless steel from China, Indonesia and Taiwan; and the American Iron and Steel Institute reported September import market share in the U.S. reached 16%. Are you under pressure to generate steel cost […]
MetalMiner models shed light on the challenge of determining what products ‘should cost’
How much should your metals buy cost? It’s a simple question that doesn’t always have a simple answer — or, at the very least, an answer that’s easy to get. MetalMiner’s “should-cost” models aim to cut through the confusion and give buyers concrete ideas of what the products they’re buying should be costing them. The […]
Stainless MMI: Stainless steel surcharges rise for fourth straight month
The Stainless Monthly Metals Index (MMI) increased by 11.3% for this month’s index value, as stainless steel surcharges rose for a fourth consecutive month. Upcoming negotiation on your stainless steel buy? Make sure you know how your service centers will negotiate with you. Stainless steel surcharges continue to increase Stainless alloy surcharges are rising for […]
