In the USA and the United Kingdom, Stainless prices increased during August, while the prices of Stainless in Canada remained stable. Nickel prices show signs of strengthening once again. The ban on the export of unprocessed nickel-containing ore from Indonesia (which accounts for 28% of world supplies) currently remains in place and is unlikely to change. The market expectation is that world supply and demand for Nickel will change to a deficit in 2015 as China exhausts its current stock of Indonesian ore for Nickel Pig Iron production (component of stainless steel).
The current predictions are that prices will remain high until the second half of 2016. This is when new Indonesian processing plants are expected to be added.
AK Steel has announced the introduction of a new product called CHROMESHIELD™ 22, which is a new nickel-free stainless steel with added benefits and stable pricing. AK Steel has claimed that it is rust and stain resistant with excellent corrosion properties, just like nickel-bearing stainless steels currently have.
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