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MEPS: Global stainless steel transaction prices to rise 5.5% in February
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Reportedly, the global stainless steel transaction prices rose by 5.5% in this February, meeting the forecast previously made by MEPS.
It’s analyzed that the price rise in stainless steel products was boosted by the surged raw material costs.
The steel mills in Europe and the US increased the alloy surcharge for stainless steel products previously and the local traders have returned to purchase for stockpile.
MEPS predicted that the raw materials used in stainless steel products will continue to rise in the near future and it expected that the prices of austenitic stainless steel products would soar further.
Besides, MEPS said that the purchase activity will increase in stainless steel market in the short term, helping to pushing up stainless steel prices.
However, the weak demand from downstream buyers may be a barrier for stainless steel mills to raise prices.
News Date
3/9/2012 9:31:59 AM
reported by
Nann Cheng
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