Demand for stainless products in Russia upStainless steel prices...

Demand for stainless products in Russia up

Stainless steel prices increased dramatically last year in Russia. The consumption of flat-rolled stainless steel in Russia has increased over 141,000 tons, up from 16 percent two years ago, according to USSA's report.

Additionally, the import volume of stainless steel within total consumption in Russia fell from 81 percent in 2005 to 71 percent in 2006 because the growth rate of domestic output has transcended that of imports.

The flat-rolled stainless steel output increased by 69 percent over 49,000 tons in Russian enterprises last year, but its import volume only increased about 1.3 percent to 99,700 tons in 2006.

USSA also estimates the consumption of main stainless steel products will go up by 16-17 percent in Russia in 2007.

News Date 2007/3/17 report by Ivy Wei

So some or all of the Norilsk increased production will be mopped up domestically....another big year coming up for the Nickelheads methinks! That topup at $2.89 may be very cheap by yearsend.