SG:US stainless buyers postpone purchasing on falling nickel prices
It is reported that the US stainless processing centers have postponed the buying due to falling nickel prices.
It is said that most stainless buyers in the US have taken wait and see attitude towards the market due to decreasing nickel prices and they might return to purchase until July 2012.
The nickel prices during the period of July alloy surcharge calculation were at USD 7.54 per pound, decreasing by 4.3% MoM.
Besides, the prices of other raw materials such as chrome and scrap have been falling as well, reflecting that the alloy surcharge for July 2012 would drop further.
