Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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November 2019 | Stainless Steels


Prices set to slump following nickel price collapse: European Highlights


Since last month, the most dramatic changes of relevance to the stainless steel market have come, as they often do, from the nickel industry.

We highlighted last month the growing tensions in Europe’s stainless steel market – steelmakers announcing large increases in alloy surcharges but transaction prices remaining the same and scrap prices collapsing relative to primary raw materials being two of the key dynamics discussed. Those tensions appear to be coming to the fore now. Nickel prices have corrected sharply in recent weeks. Alloy surcharges and stainless steel prices look set to do likewise (on the most common nickel-containing grades). Recently-released financial results from the region’s stainless steelmakers illustrate the difficulties that Europe’s stainless steel producers have faced in recent months and they are likely to continue until early 2020 at the very least.

Since last month, the most dramatic changes of relevance to the stainless steel market have come, as they often do, from the nickel industry. Prices of the metal have fallen by just under...

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