ProSPOTLIGHT Blog Posts

Stainless Steel surcharges to increase

Surcharges for February delivery in Europe are expected to rise following recent commodity gains. Nickel has been stronger since mid December and allthough the price slipped back from highs around $19,000 per tonne on the LME it remains stronger. Even stronger gains for Molybdenum look set to drive moly bearing grades typically 316 even higher with [...]

Posco starts new stainless steel production

POSCO’s CRC stainless steel mill with the capacity of 400,000 tons started into production on December 16. Spokesman of POSCO said that it is a main body for the company’s strategy in adjusting the products structure. The CRC mill began to be started in August and tried out production in November. The output had input in [...]

Outokumpu revive plans for Indian service centre

Finnish stainless steel major Outokumpu on Sunday said it may revive its plan to invest around Rs 300 crore in India as the commerce ministry has decided not to levy anti-dumping duties on imports of certain products of the alloy steel. In April, the government had imposed a duty across stainless steel categories of between $12.74 per [...]

Women of steel

Jessica Ennis – World Heptathlon Champion 2009 – Made in Steel City Sheffield famous for the first production of stainless steel I was made in Sheffield. From the Don Valley Stadium, where the smell of the track can still transport me back to being a ten-year-old girl sitting on the concrete steps, to the Peace Gardens, [...]

EU may launch anti dumping on China for stainless steel

Wolfgang Lipp, CEO of Austria stated that EU will possibly launch the anti-dumping on China’s stainless steel exporters to stop China to pour a large amount of materials into Europe market. Although the demand slows down, China’s stainless steel exporters have a consecutive and rapid expansion plan, in the incoming four years, to sell out [...]

December stainless surcharges for Europe fall

Outokumpu the Finish based stainless steel supplier have confirmed surcharges for delivery of stainless steel in December 2009. Industry experts expected surcharges to fall and 316 stainless steel seems to be the biggest loser with a reduction of over 80 Euros for December deliveries. The recent commodity falls from both nickel and Molybdenum prices have [...]

Stainless steel prices fall slightly in Europe

Stainless steel prices have soften slightly after initial increases in price , mainly due to any lack of real demand in Europe. This may result in further production cut backs in a bid to firm up prices. The latest forecast comes from MEPS :- “Transaction values for all products are expected to continue on their downward [...]

Outokumpu sales slump

Finnish stainless steel manufacturer Outokumpu so its third quarter sales slump 54% compared to last year. Demand for stainless steel has fallen significantly during the economic down turn, but even these figures where worse than analysts forecast. Executives for the company still forecast break even by the end of the year due to rises in [...]

Stainless steel surcharges rocket

Outokumpu the Finish based stainless steel supplier have confirmed surcharges for delivery of stainless steel in September 2009. Industry experts expected surcharges to increase but even they admit they where surprised by how much especially for 316 stainless steel. The recent commodity gains from both nickel and Molybdenum prices have driven levels for September delivers [...]

China stainless steel mils cut prices

Chinese stainless steel mills cut prices by up to 800 yuan ($117) per tonne after raw material prices retreated and some market participants predict a stiff correction. Shanxi Taigang Stainless Steel, China’s leading producer, cut its list price for Grade 304 2B 2mm cold rolled coil and hot rolled coil by 800 yuan to 24,620 [...]

New stainless steel increases announced

Two of the stainless steel giants in the Far East market Yusco of Taiwan and Posco of South Korea announce increased stainless steel prices due to rising costs and demand more details below:- “YUSCO announced to adjust up the stainless steel prices again, and international nickel price has climbed to US$20,000 per ton, up US$3,000 per [...]

Stop anti-dumping duty on imported stainless steel

All India Stainless Steel Industries Association (AISSIA) today urged the government to immediately stop the imposition of anti-dumping duty on imports of stainless steel coils, as it is adversely affecting the domestic stainless steel utensils and cutlery manufacturing units in the country. Association President Badri Baldawa said the imposition of anti-dumpng duty on the import of [...]

Thyssen Krupp announces big loss

German based steel maker ThyssenKrupp announced a big change in fortune’s compared to last year when it announced big losses for Q3 earnings before taxes showed a loss of €987 million compared to the previous year of €2297 million. The company blamed the global recession for a slump in demand and hefty price falls. Highlights as [...]

Stainless scrap prices rising

Prices for stainless steel scrap are on the increase. In Japan prices have risen by over 5000 YEN , a similar picture is being reported in central Europe where prices are around 1200 Euro (1680 USD). A combination of recent increases in the Nickel price(over $20000 per tonne on the LME) along with increased demand [...]

Krupp site celebrates 50 years of stainless

On August 5, 2009, stainless steel manufacturer ThyssenKrupp Nirosta can look back on 50 years of production at its Dillenburg site. The plant – then owned by Siegen-based “Stahlwerke Südwestfalen AG” – started operations in 1959. Gerhard Beermann was mayor of Dillenburg at the time and gave his support to the construction of the plant [...]

ThyssenKrupp invests in eco-friendly converter

ThyssenKrupp Nirosta has completely modernized its converter facilities in Krefeld and in so doing made a further contribution to lowering pollution in the area around the plant. The optimized equipment started operation in the melt shop in spring and was recently granted an official operating license following the ramp-up phase. The two new AOD (Argon [...]

Price increases Japan,China,US and Europe

It seems that prices are increasing for stainless steel all over the world, buoyed up by 12 month highs for Nickel had the LME and a new found confidence for the stainless steel markets we have listed a few extracts below for a snapshot of what is happening Japan’s stainless steel producers are contemplating offering a [...]

RIP Harry Patch

Not related directly to stainless steel but somebody who indirectly would have an effect on virtually all our lives and the world today is Harry Patch. “The Wells Cathedral bell began to toll today as Britain bade farewell to Harry Patch, its last surviving soldier from the First World War. About 1,000 members of the public [...]

US Stainless prices to increase in August

Two major stainless steel flat-rolled mills are planning what amounts to a 3% increase in August transaction prices for cold-rolled sheet. Price increases have been announced by Allegheny Ludlum unit of Allegheny Technologies and North American Stainless. The other major U.S. producer, AK Steel, is seeking to increase stainless surcharges in September. Allegheny Ludlum says its [...]

South African stainless steel makers in wage dispute

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Nickel price still rising

Stainless steel prices look to be increasing further due to the increasing Nickel price. Prices for Nickel on the LME rose again today adding 37 cents arriving at US$8.43/pound by midday. According to this comment from the UK Daily Telegraph prices could still increase further “As the global economy goes toward growth as opposed to a [...]

Stainless Steel recovery underway

UK based consulting major MEPS sees a recovery in the stainless steel sector is under way. World steel production in the second half of this year will be significantly higher than in the first six months. It said that “The Asian market has started to pick up. De-stocking is coming to an end in most [...]

Outokumpu increase stainless prices for September

Finnish stainless steel manufacturer and market leader in the UK has announced increases for delivery of new material for September. The increases of 5% for Austenitic grades (304 / 321) and 10% for Molybdenum grades (316) announced in the UK where widely anticipated. Although unlike the recent price increases by Yusco which are to reflect [...]

Acerinox announce big loss

Spanish stainless steel maker Acerinox missed forecasts with a 255 million euro loss in the first half but said it expected positive results in the third quarter and a pickup in demand in the fourth. “We consider that the worst has passed,” the company said in a statement. Acerinox shares fell on the results and were [...]

Nickel strike continues as price rises

Prices in Nickel went through the key $17,000 per tonne price level in early trading on the LME, this follows news that the Vale Inco strike at Sudbury shows no sighn of ending soonsee below from there local paper. It could be “at least a couple of months” before there is any movement in the strike [...]

ArcelorMittal weighs up stainless steel spinoff

ArcelorMittal is exploring a joint venture spinoff of its stainless steel business, worth an estimated $3bn (£1.82bn), in a sign that the biggest steelmaker is contemplating scaling back. Driven on by Lakshmi Mittal, chairman and main owner, the group has expanded on the back of acquisitions including the €26.9bn (£23.2bn) purchase of Arcelor of Luxembourg in [...]

Brite Band stainless in administration

UK supplier and processor of stainless steel slit coil Brite Band company Ltd have appointed administrators the P&A partnership of Sheffield (Full listing at the bottom of the page). The business was run by Jonathon Hanson, the Hanson family have been established in processing stainless steel narrow coil for over 30 years. The Brite Band [...]

Outokumpu’s loss smaller than expected

Outokumpu the finish stainless steel manufacturer posted second quarter losses of 94 million euros ($133.4 million) in April-June from a 174 million profit a year ago. This was slightly better than the forecast figure by industry experts of 104 million euros. CEO Juha Rantanen siad in a statement “Despite the continued rather heavy operating loss, [...]

Stainless surcharges rise again

Outokumpu the Finish based stainless steel supplier have confirmed surcharges for delivery of stainless steel in August 2009. As forcast not only have the rising nickel and Molybdenum prices increased surcharges but also the Ferro Chrome increase has effected 430 (1.4016) as previously forcast here surcharges. A snapshot is listed below:- 1.4301 (304) 849 EUR /728 [...]

Nickel demand forcast to rise

Japan’s largest nickel producer, forecast a “substantial recovery” in demand in the six months starting October as the company’s output returns to full production. “Demand for electronics materials is recovering and stainless steel mill output is improving,” Akira Nozaki, general manager at the nickel sales and raw material division, said yesterday in an interview in Tokyo. [...]

Posco to increase stainless prices

South Korea’s POSCO said Monday it would raise domestic prices of stainless steel by up to 7.1 percent in its second price hike in just one month to reflect improving demand and rising raw material costs. POSCO, the world’s No.6 steelmaker, said prices of hot-rolled stainless steel would rise by 7.1 percent, or 200,000 won, [...]

European Surcharges to rise again

Current forecasts for stainless steel surcharges to be announced next week for August deliveries by European mills are expected to rise. The surcharges are calculated using several factors that include elements such as Nickel, Chrome and Molybdenum . They also have to incorporate an allowance for currency as many of these elements are traded on [...]

Ferro Chrome prices up 26%

The term price for ferrochrome to Japan for July-September has been raised by 26% from the second quarter of this year, an official at Nippon Steel & Sumikin Stainless Steel Corp said on Thursday, its first increase in a year. The term price was lifted to 97c per pound, up 20c from the second quarter. The price [...]

Thyssen Krupp to merge with Outokumpu ?

ThyssenKrupp, Europe’s largest stainless steel maker, will have to find creative ways to dodge anti-trust bullets as it seeks an ally to cut stainless steel overcapacity in the region. ThyssenKrupp and rivals Outokumpu, ArcelorMittal and Acerinox have all racked up eye-popping losses in their stainless operations amidst a worldwide economic slump. Recession-driven consolidation is a must in [...]

Nickel miners set to strike – update

Union workers at Vale Inco’s Sudbury nickel mine in Canada rejected the company’s final contract offer and will go on strike at midnight Sunday, the United Steelworkers union said on Saturday. Negotiations between Vale Inco — the nickel mining and processing division of Brazil’s Companhia Vale do Rio Doce — and its union broke [...]

Nickel miners set to strike ?

The union representing employees at Vale Inco’s nickel operations in the northern Ontario city of Sudbury says there is little doubt members will reject a final contract offer by the company and a strike is “imminent.” The more than 3,000 Vale mining and processing workers represented by the United Steelworkers in Sudbury will vote on the [...]

Stainless steel restocking to support Nickel

Robust demand for good quality stainless steel should sustain nickel prices towards the end of the year as consumer stocks will need to be replenished even if the global recession limps on. Prices of the steel-making ingredient valued for its anti-corrosive properties fell to 5-year lows below $10,000 a tonne last October after the collapse of [...]

Thyssen Krupp may drop plans for new stainless steel plant in US

German steelmaker ThyssenKrupp is thinking about dropping plans for its stainless steel plant in the U.S., but it hasn’t made a decision yet, according to a spokesman for the company’s steel division. It also is looking at delaying the start of operations at its steel plant that is already under construction, the spokesman added. ThyssenKrupp also has [...]

Stainless Steel memorial for July 7th London Bombings

A £1m permanent memorial to the victims of the 7 July 2005 London bombings is to be unveiled in the city’s Hyde Park. Fifty-two people were killed and hundreds more injured when suicide bombers detonated backpacks on board three Underground trains and a bus. Families of those killed will gather later to see it publicly revealed. Relatives who [...]

Stainless steel prices increase in June and more to follow

Stainless steel producers throughout the world are succeeding in securing higher prices, although there appears to be no increase in [...]

JSL take advantage of duties to increase prices

JSL Ltd, the OP Jindal Group company that is the country’s largest integrated stainless steel producer, has stopped offering discounts to dealers, pushing prices up by 6% across product categories. DNA Money spoke to some of the company’s dealers and found prices have jumped at least 6% in categories that JSL operates in. In categories that [...]

BAO Steel says stainless price increasing

China’s largest steelmaker, said stainless steel sales improved every month this year on the preceding period because of rising demand from the petrochemical and power industries. Pudong International Trading Co., a major trading arm, sold 104,000 metric tons of HR products in H1, Baosteel said in a statement on the State-owned Assets Supervision and Administration Commission’s [...]

Perchcourt stainless in administration

UK stainless tube distributor Perchcourt based in the West Midlands have gone into administration. The Administrators PKF where appointed on the 22nd of June 2009. Perchcourt have been in business for over 20 years , they specialised in the supply of stainless steel tubes and sections throughout the UK. It is not clear if high [...]

Outokumpu increases capacity

Finnish stainless steel maker Outokumpu said on Thursday it would increase its production capacity on the back of stronger order intake, but cautioned underlying demand for stainless steel remained weak. “In the past weeks Outokumpu’s order intake for stainless steel has increased somewhat from the earlier very low levels,” the firm said in a [...]

Chinese stainless production to increase

China’s stainless steel capacity is expected to exceed 20 million tonnes per annum by end 2010, up from 15 million tonnes per annum currently. Beijing Antaike Development said that “More than 10 million tonnes per annum of stainless steel facilities under construction are expected to be completed late next year.” It added that the new plants [...]

Stainless steel surcharges increase

Outokumpu the Finish based stainless steel supplier have confirmed surcharges for delivery of materials in July 2009. As forcast not only have the rising nickel prices had an effect, the Molybdenum price growth has increased prices for 316 (1.4404) and as predicted by stainlesssteel.me . A snapshot is listed below:- 1.4301 (304) 747 EUR /645 GBP 1.4404 [...]

AK increases stainless steel prices

AK Steel said on Thursday it will raise spot prices for all of its carbon and stainless flat rolled steel products starting with new orders for July and August shipment. The company said base prices for hot rolled products will increase by $60 per ton. Base prices for cold rolled products will increase by $70 per [...]

Ferrochrome prices increase 430

Ferrochrome prices could rise sharply this year because of higher electricity costs in top producer South Africa and increased buying by stainless steel mills as demand recovers. The global economic downturn saw demand crash for ferrochrome, used in stainless steel to prevent corrosion. But as financial packages to stimulate economic growth feed through, a rise [...]

Japanese stainless steel output rises

Japan’s stainless steelmakers have raised production in June due to increased demand from China. A major steelmaker operating a 500,000 tonnes per year plant in western Japan has raised its run rate to over 70% of capacity this month, from 50% to 60% previously. Another steelmaker with a 240,000 tonnes per year plant in eastern Japan [...]

Outokumpu invests to combat climate change

Outokumpu launched last year a competition to combat climate change as part of its corporate responsibility theme year 2008. Stainless steel production requires a large quantity of energy. At Outokumpu the main energy source is electricity where the share of renewable sources is some 50 percent. The winning proposal aims to further increase the amount [...]