South Korea stainless steel mill has announced to increase the export price of stainless steel cold rolled products to China by US$100/ton for November-December shipments.

Encouraged by the recent stable nickel prices, global stainless steel market has been warmed up.

According to the market situation at this moment, ELG Haniel Metal Company expects that the stainless steel output will only increase a little or no increase in the fourth quarter, especially in EU and US market.

But they also said that once those steel mills have advanced their time of the scrap purchasing for 2008, it may cause the scrap demand to boost in the fourth quarter of 2007.