November Metal Price Movement guide Stainless Nickel prices have declined sharply over recent weeks, meaning that stainless surcharges will fall in November. Faced with falling prices, stainless users and distributors are attempting run down stock levels and hence mill orders and demand for nickel have fallen backwards. Prices have now corrected downwards and appear to have stabilised. Prices in December are likely to be similar to November prices. Mild Steel Due to the strength of sterling, price of imported steel has fallen backwards over recent months. This has forced Tata and other European producers to drop their prices in order to compete. This has led to prices falling back to their lowest level for four years. There is no reason to suggest this situation will reverse in the immediate future. Earlier this month, Tata Steel announced that they had reached agreement to sell their Long Products (section) Division. This reflects that they still see the market conditions in Europe as being extremely difficult. Aluminium As reported last month, aluminium price remains strong. The LME rose back above $2,000/tonne last week and metal premia remain at record levels. Prices are likely to remain at these levels for the remainder of the year.
Posted on: Thu, 06 Nov 2014 13:45:59 +0000
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