Influence of base metals price on the stainless steel

London Metal Exchange benchmark nickel price ended down 0.6% at $US 10,630 a tonne. Prices of the metal used to make stainless steel are up about 20 per cent so far in 2016.

As we knows stainless steel is a alloy steel who contains 10%-30% chromium. Generally, a alloy steel with a minimum of 10.5% chromium is difficult to get rust.

But with the advent of the rainy season and government involvement. NPI (nickel pig iron) is underproduce.

“It does look like the ones that have been closed are roughly about two per cent of Philippine production, so nothing significant,” said Citi analyst David Wilson.

“We’re going into the summer maintenance period at stainless mills, so, if anything, melt rates are going to ease. NPI (nickel pig iron) production in China has been picking up since the February lows, fundamentally the situation hasn’t changed.”

Other metals(copper, aluminium, zinc, tin) used to make stainless steel are gained prices. Materials prices changed might rise in stainless steel products price, like socket weld fittings, threaded fittings and butt-weld fittings.