Base metals prices on the London Metal Exchange are for the most part weaker this morning, Tuesday October 3. The exceptions are aluminium ($2,108.50 per tonne) and nickel ($10,490 per tonne) where prices are up by 0.2% and 0.3%, respectively, while the rest are down between 0.5% for zinc ($3,224.50 per tonne) and 0.1% for tin ($20,660 per tonne). Three-month copper prices are off by 0.4% at $6,465 per tonne.
The most-traded January nickel contract gained 2.55%, or 2,410 yuan, to 97,060 ($14,795) yuan per tonne as of 10:15 Shanghai time. Close connections between nickel and ferrous products made nickel prices the most sensitive to news of a fire at Bengang’s No.1 blast furnace on Friday September 1 that led the most-traded January rebar contract on the SHFE to gain more than 3% to 4,113 yuan per tonne on Monday morning, while the most-traded January hot-rolled coil contract surged nearly 4% during morning session. Fires have also broken out at several other steel mills including Xinxing Pipe and Hebei Shengbao, according to local media reports. "These accidents have raised market expectations of stricter safety checks and environmental inspections, which have lent support to the ferrous market,” said a Shanghai-based analyst. Meanwhile, constrains on the supply side for nickel are being aggravated by falling stocks
Ever since the wheel was invented 5000 years ago Man has been looking for new ways to move himself and other objects around more easily. The first two-wheeled device was shown in Paris in 1808 and it was developed and introduced in England as the Draisenne or Dandy-horse in 1818. This device essentially consisted of two wheels joined together by a wooden beam and it was propelled by the ‘rider’ striding along the ground. The addition of cranks in the 1840’s allowed the cycle to be driven by the rider and the penny farthing was introduced in 1870. In the early days bicycles were made from wood and the ride was often very uncomfortable. The invention of pneumatic tyres in 1846 by Thomson (they were reinvented by Dunlop in 1888) and the introduction of iron in the 1860’s allowed designs to be improved and the bicycle became a viable mode of transport for all. In the 1890’s T I Reynolds started producing relatively lightweight frames from steel rather than iron, but after this few major advances in materials were made until after the Second World War when aluminium, titanium and composites were introduced. Modern day bicycles are made from a variety of materials but the design considerations (weight, stiffness, strength, aerodynamics, cost and safety) are essentially the same, it is only the relative importance of these which changes.
Perhaps one positive that can be said about the stainless steel market as we begin 2016 is that prices are not falling as fast as they were a few months ago. Indeed, for much of 2015, prices fell drastically as the price of nickel, a key component in the most common grades of stainless steel, hit new multi-year lows with each passing month.
With nickel prices, at writing, hovering around $8,000/tonne - the lowest nominal level since 2003 - there is a belief that nickel prices are now oversold and thus due a rebound. Certainly for those that believe in long-term regression to the mean, nickel prices are low.
Stainless steel is used across many industries including metal products, mechanical engineering, construction, motor vehicles and parts, electrical machinery, and transport. It is rust-resistant can be easily sterilized and is considered ideal for daily use products. Countries like India and China are increasing the use of scrap steel to reduce their carbon footprint. Scrap recycling improves the industry’s economic viability and reduces environmental impact by eliminating the need for iron ore extraction for steel production.
According to new report by Grand View Research,The Global Automotive Stainless Steel Tube market was dominated by Asia Pacific in 2015 and is projected to witness the highest CAGR of 4.4% from 2016 to 2024 and Rising automotive industry is projected to be the biggest driver of this market over the forecast period
European stainless steel base prices for grade-304 bright bar rose by €20-30 ($21-32) per tonne this week, as market participants accepted further increases from mills, sources said on Friday January 13
BEIJING 6 Dec 16 Chinese 304 grade stainless CRC market continues to be quiet for the time being under customers’ waitandsee attitude. Current mainstream market prices of 304/2B 2.0mm*1,219mm*C from T aigang Stainless and JISCO are about RMB16,100/t (USD2,337/t) VA T included in Wuxi, Jiangsu province. Insiders do not expect the market to improve in the next few days.