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MEPS International (Ltd) forecasts rising world stainless steel prices in January 2013 on the back of recent increases in raw material costs. Speculative buying by some traders is expected to add to the upward pressure on transaction values in the near term. Growing end-user demand, particularly in China, could also help to lift prices.
Market fundamentals during 2013 will be challenging as the threat of oversupply remains. Consequently, advances in selling figures could falter around the middle of the year. Reduced activity over the winter season could result in prices slipping further during the fourth quarter.
Nickel values are expected to climb in the first quarter of 2013. However, fundamentals are weak, particularly in developed nations, and nickel is expected to be in surplus over the next twelve months. This is likely to weigh on prices as the year progresses.
