Stainless Steel prices drop in April, further declines expected in May: MEPS

LONDON (Scrap Monster): Stainless steel selling figures are forecast to decrease further this month because of recent reductions in nickel values, according to MEPS International in a briefing.

According to MEPS, ongoing credit restrictions, particularly in Europe, and weakening end-user demand are likely to limit mill sales volumes in the short term.

However, prices should remain firm through the majority of the third quarter due to increased input expenditure.

World average cold rolled coil, grade 316, transaction value decreased by 5 percent in April. Reductions, due to falling raw material costs, were noted in North America, Asia and the EU, MEPS concluded.