Page 41 from: September 2011
Nickel & Stainless
g i v i n g e a r t h i t s s e c o n d n a t u r e
Wervikstraat 320 • B 8930 Menen • Belgium • Tel.0032 (0)56.52.13.00
Fax 0032 (0)56.52.13.10 • Email: [email protected] • Website: www.galloo.com
OUR GOAL: 100% RECYCLING
Group Galloo Recycling is one of the principal
recycling companies of ferrous and non-ferrous metals
in Europe. Group Galloo Recycling annually treats
1.000.000 tons of ferrous scrap, 60.000 tons of non-
ferrous metals, 25.000 tons of plastics out of 200.000
tons of shredder residues. By investing permanently in
new technologies, the group aims at a 100 % recycling.
Galloo_adv_Rec_intern-180-127/09.indd 3 14-05-2009 14:45:30
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EU member states could have an effect
on the stainless steel industry, thereby
leading to lower nickel demand.
China and elsewhere
in Asia
The Jinchuan Group, China’s largest
nickel producer, adjusted its nickel
price upwards on several occasions at
the beginning of the month, much to
the surprise of market players. Given
the poor performance of the market,
the majority of traders opted for a
watching brief in preference to taking
concrete action; the nickel price duly
hit a low of Yuan 158 000 per tonne
(US$ 25 079). While this price may
seem attractive to some, lifeless
downstream demand for stainless
steel is continuing to promote a wait-
and-see attitude among both nickel
traders and smelters.
North America
The combination of a slump in nickel
prices and deepening economic uncer-
tainty has prompted US mills to offer
deals on flat-rolled stainless during the
course of August and in early Septem-
ber following a drop-off in buyer inter-
est. Distributors are claiming that mills
are willing to talk about discounts on
higher-volume orders.
US exports of stainless steel scrap
soared more than 44% in June this
year to 84 893 tonnes from 58 846
tonnes in the previous month, the
Commerce Department has revealed.
However, across the first half of the
year as a whole, overseas shipments
were more than 20% down on the
same period last year at 329 587
tonnes.
Meanwhile, America’s nickel scrap
exports soared almost 60% to 3640
tons in June this year from 2284 tons
the previous month; overseas ship-
ments in the first half of this year were
55% higher than in the corresponding
period of 2010 at 17 958 tons.
Minor metals
Ferro-tungsten prices have climbed to US$ 48.80-50 per kg W in recent weeks
on higher offers for Chinese tungsten concentrates and a lack of European inven-
tory. Amid weak demand and cheap offers from China, ferro-vanadium prices
have fallen almost 9% from this year’s peak of US$ 30.50-31.75 per kg V to US$
27.80-28.70. Ferro-titanium (maximum 4.5% aluminium) is struggling around
US$ 9 per kg Ti and is quoted at US$ 8.90-9.20 for the moment. Demand for
cobalt has maintained a healthy pace in recent years. World refined production
has grown continuously over the past decade, and jumped from just under 60
000 tonnes in 2009 to more than 76 000 tonnes in 2010. On the LME, cobalt is
quoted at US$ 35 000-36 000 per tonne while molybdenum continues to live a
shadowy existence in a price range of US$ 31 500 to US$ 32 500 per tonne.
Ferro-chrome
Chrome scrap prices have been largely unchanged in recent weeks at levels of
US$ 560-600 per tonne for the 430 quality and US$ 480-520 for 409 material.
Market players are filled with suspense as they await ferro-chrome price levels for
the fourth quarter. The EU-27’s charge/HC ferro-chrome imports amounted
637 000 tonnes in the first four months of this year – a drop of 3.3% when com-
pared to the same period in 2010, according to Heinz H. Pariser. South African
ferro-chrome production slid 1.2% to 1.57 million tonnes in January-May this year
from 1.589 million tonnes in the first five months of 2010. Production cuts in the
winter season may lead to lower supply in the fourth quarter of this year.
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