Global nickel demand should be boosted late this year by improved stainless stain production, a tighter scrap market and a slight recovery in the austenitic steel ratio.Thats according to GFMS Metal Consultings forecasts. “After what will have been three consecutive years of negative growth, GFMS Metals Consulting is projecting a sharp rebound in consumption forecasting increases [...]

Chinese shares rebounded Thursday on government plans to raise tax rebates on a range of exports to boost sluggish trade. The benchmark Shanghai Composite Index climbed 70.15 points, or 3.1 percent, to close at 2,361.7. The Shenzhen Composite Index for China's smaller second exchange added 2.2 percent to close at 774.05. The Cabinet announced Wednesday it will raise rebates of value-added taxes April 1 on exports of textiles, steel, nonferrous metals, petrochemicals and other goods. The government also said it will try to help Shanghai develop as a financial and transportation center.

A $500 million nickel pig iron project planned for Indonesia has been scrapped, a senior official at Shanghai Tsingshan Mineral Company Ltd, the majority partner in the venture, said on Thursday. The deal had fallen through because the local government wanted to take back mining rights, Jiang Xinfang, president director of Tsingshan, a subsidiary of the country's top private stainless steel producer Tsingshan Holding Group.

The US Department of Commerce has issued an antidumping duty order on circular welded austenitic stainless pressure pipe from the China on March 17th 2009, based on affirmative final determinations by the Department and the International Trade Commission. The Commerce department determined that Chinese producers/exporters have sold stainless pressure pipe in the US from 10.53% to 55.21% less than normal value. In addition, they also determined that Chinese producers/exporters have received net countervailable subsidies ranging from 1.10% to 299.16%.

March has been a bad month in the UK for stainless steel distributors and the economic downturn is increasing the number of casualties. This week two more distributors and processors and gone into administration following the same route as Lockley Stainless. Allied stainless who process over 650 tonnes of material throughout their group per month have appointed administrators. There main areas of activity where slitting and blanking of stainless steel coils.