Stainless Steel Prices

It’s that time of year when purchasing departments around the country are calculating their budgets for 2014 and trying to best guess stainless steel prices for next year.  So what does BS Stainless expect to happen on prices?

Clearly prices have been depressed for some time on the back of a global recession, resulting in weak demand. Furthermore Nickel prices have been consistently low since a peak in early 2011. Without the help of a crystal ball any price predictions are always difficult but 2014 could be the time for increased prices for stainless steel.

There are several reasons for optimism; firstly although the global recession isn’t over many economies are clearly strengthening leading to increased demand notably in construction, automotive and oil & gas. Nickel prices as mentioned are not just at historical lows they are at loss making levels, this invariably leads to a situation when its not viable to produce Nickel mines will be closed and production reduced. Similarly with cut backs in production of stainless steel from many mills around the world any spike in demand however small can quickly lead to shortages in turn removing any surplus stocks on the market and higher price levels.

While there are no pointers to a surge in prices the general feeling is that there is more demand in the market and quarter one next year will see some price increases.  We feel that prices for stainless steel over the next 12 months will be higher.

BS Stainless always aim to work closely with our customers to minimise the effect of any price increases, if you need support on any projects or long term supply options contact BS Stainless, we can offer stainless steel wire, stainless steel coil, blanks, banding any many more products.