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MEPS sees stainless prices to fall temporarily

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MEPS reported that the recent drop of stainless steel prices is only a temporary situation due to the decrease in the traded nickel prices.

Also, it expected that stainless steel prices in October will be even lower because a further reduction in alloy surcharges in western industrialized nations might happen.

However, MEPS said that mills’ order books will be strengthened by the end of the year due to the low inventory and a rise on nickel prices.

In the meanwhile, the domestic mills are not likely to be in a position to lift selling values as they compete with the cheaper imports.

On the other hand, the seasonally higher consumption should help to boost sales volumes in the Q1 and the Q2 of 2012, which consequently will make stainless steel selling figures to rise during the H1 of 2012.
News Date 05 Sep 2011 16:07:27 reported by Cathy Tai

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