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MEPS: falling nickel prices to lower stainless steel values
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The transaction prices of stainless steel have been affected by the raw materials prices heavily, according to UK based MEPS.
The stainless steel mills in Far East issued the monthly list prices to reflect the input costs while the stainless steel producers in Europe and North America adjust the monthly alloy surcharge to publish the prices.
Nickel, takes large percentage of the input costs for stainless steelmaking has affected the stainless steel prices heavily.
Industry sources predicted that the nickel will be oversupplied this year and next year, caused by the reduced stainless steel consumption.
Therefore, the nickel supplier will delay or reduce the scale of the new project to balance the supply and demand.
News Date
7/9/2012 10:25:45 AM
reported by
Nann Cheng
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