According to market sources, the world's transaction prices of nickel based stainless CR sheets are thought to have bottomed out both in Asia and the West. A case in point is Japanese export prices for Asian destinations, mainly China. They have stopped falling at a level of USD 2,000 per tonne FOB. The following are an overview of the world's stainless steel market conditions.

The amousteelcan1nt of steel cans recycled last year was 7.2 million tonnes across the 37 countries reporting . This avoided approximately 13 mmt of CO2 emissions. The global recycling rate for steel cans was 68% in 2007, a slight increase from 67% in 2006. This is the highest level ever and is the third consecutive year that the steel can recycling rate has increased.

World stainless steel production is likely to register its third consecutive year on year fall in 2009,According to analysts at Metal Bulletinn's Asian Ferroalloys conference in Hong Kong. Mr Bonnie Liu commodity research analyst at Macquarie Bank said that total world stainless steel output is set to fall 11% in 2009 as compared with a 7% drop in 2008. She added that a modest increase in Chinese production up by 4% YoY to 7.2 million tonnes from 6.92 million tonnes in 2008 partly offset steep declines elsewhere.

The indian stainless steel market has potential to significantly increase based on usage per head based on Chinas and depite current down turn continues to grow. What kind of potential do you see for stainless steel in India? Demand is growing despite the slowdown. For the best results, we should allow customers to have access to premium products and pick suppliers of their choice. Unfortunately, there is a tendency to seek protection whenever demand goes down. Stainless steel users in India employ more people than the producers. Therefore, the government should take a balanced view on demands for hike in import duty or imposition of anti-dumping duty. India is rich in minerals and ores. We also have the widest pool of trained and educated professionals, huge internal demand and a pro-active government.

The indian stainless steel market has potential to significantly increase based on usage per head based on Chinas and depite current down turn continues to grow. What kind of potential do you see for stainless steel in India? Demand is growing despite the slowdown. For the best results, we should allow customers to have access to premium products and pick suppliers of their choice. Unfortunately, there is a tendency to seek protection whenever demand goes down. Stainless steel users in India employ more people than the producers. Therefore, the government should take a balanced view on demands for hike in import duty or imposition of anti-dumping duty. India is rich in minerals and ores. We also have the widest pool of trained and educated professionals, huge internal demand and a pro-active government.