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An air of optimism has been apparent in European stainless markets in may 2009, especially for coil products, despite there being no sign of an upturn in underlying demand. After many months of plummeting transaction values, basis prices have increased, with alloy surcharges to follow suit in June 2009. Perhaps, for those whose business is buying and selling stainless steel, this is reason enough to smile.

There are numerous factors to suggest that the bottom of the current cycle has been reached. Producers' capacities and inventories have been cut to reflect current activity levels. As a result, delivery leadtimes are growing and some items may soon be in short supply. Furthermore, recently published indices in both the UK and Germany showed improved confidence levels among business professionals.

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stainless steel

Steel consumption is likely to shrink next year from the 2008 level, with the biggest decline in demand in the first half of the year, the European Confederation of Iron and Steel Industries said on Monday.

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steel copper trends

Unveiling its annual sustainability report last week, the World Steel Association said that more than 56 steel producers had provided the organisation with data on their carbon emissions, representing 60 per cent of its members' steel production and almost a third of total global steel production.

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Johannesburg - Preliminary figures released by the International Stainless Steel Forum show that global stainless steel crude steel production decreased in the first half of 2008 by 1.8 percent compared with the previous year.

The drop in output was 2.9 percent in the first quarter but just 0.6 percent in the second and all major regions have recorded lower production volumes.

The smallest drop came from Western Europe and Africa, which together represent the world's second largest producing area, after it reported a 0.8 percent decrease in stainless steel production during the first six months of 2008.

Total production was 4.9 million tonnes for the half year.

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The future of Tata's forthcoming Nano - the cheapest car in the world - could be jeopardised by rising steel prices.

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automotive steel price india

China Steel Australia plans to at least triple its nickel pig iron production capacity through a $92 million expansion of its Linyi plant in China’s Shandong Province.

The company, which services the domestic Chinese market, today announced that fixed price building contracts had been signed for the plant expansion, with production scheduled to commence in January, 2009.

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Tokyo Steel Manufacturing Co. has halted exports with the strong yen and soaring steel scrap prices cutting into profit.

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