As forecast the fall in September surcharges kept the revival In the US stainless steel market at bay. Added to the mix now is the possibility of a prolonged economic downturn -which will see demand fail in virtually every end-use sector for stainless steel - and the prospect of a nickel price stabilising at 18,000-20,000 dollars/tonne for next two quarters at least. None of this bodes well for prices, and MBR now believes that there will not be a significant upturn in the market until at least the second quarter of 2009, and whether this occurs will be very much dependent on how the current economic crisis plays out over the course of the next six months.
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