November 1 2012 – Romex Wire at $1.35 per pound in prices from Rockaway Recycling
In other news:
MEPS EXPECTS GLOBAL STAINLESS STEEL OUTPUT TO REACH NEW PEAK IN 2012
Total world crude stainless steel production for 2012 looks set to reach an all-time record figure of 34 million tonnes. This would be a 0.8 percent increase on the previous high, set in 2011. MEPS anticipates moderate growth, in global terms, of around 3 percent in 2013, year-on-year, resulting in an annual crude stainless steel output of 35 million tonnes.
Economic and industrial growth in China has slowed considerably. MEPS estimates that the published figure for Chinese crude stainless steel production will increase by 1.1 percent, this year, to achieve a total of over 14.3 million tonnes. This is far below the typical rate of expansion recorded in this country in recent years.
South Korea’s major stainless steel mill continued to limit its production during the third quarter in order to support prices. Even so, MEPS expects total output for 2012 to increase by 0.7 percent on last year’s outturn.
Poor demand and oversupply led to further cuts in production in Taiwan, this year. Output is anticipated to reduce by 8.6 percent, compared with the 2011 total.
Japanese domestic consumption is quite stable but exports are weak due to ongoing economic problems, especially in Europe. Crude stainless steel output for 2012 is forecast to be down 1.1 percent, year-on-year.
Activity levels in the United States have been steady since the second trimester of 2011. The total outturn for this year is predicted to decrease by 1.6 percent, compared with last year’s figure.
Demand has dropped in the European Union, after promising results in the first quarter of this year. An annual total output of 7.6 million tonnes is predicted – an advance of just 0.3 percent on the 2011 outcome.