Rapidly growing demand for stainless steel in China has been providing mills in Asia and elsewhere with a market for a sizeable portion of their output.
The World Trade Organization (WTO) will adopt a ruling against US steel tariffs on 1 December.
Far from declining since Inco resumed production after a lengthy strike at its Sudbury operation in Canada, the price of nickel has gone from strength to strength.
Already struggling with a flat economy and weak demand, US specialty steel producers lost additional domestic market share to imports in the first eight months of this year compared to same 2002 period.
Stainless steel mills in Europe are maintaining their annual growth rates this year even though the third quarter saw a slowdown in production, according to Sandro Giuliani of Giuliani Metalli (Cronimet group, Italy).
Stainless steel is set to continue its strong growth, according to the ISSF.