then spare a thought for companies trying to buy rare earths!
According to Meps orders on the stainless mills continue to fall despite massive production cuts. Suppliers of raw materials - nickel, chromium, molybdenum and scrap - have all reduced their selling prices in an effort to stimulate the market but to no avail.
Nickel prices are currently hovering around US $30,000 per tonne, according to MEPS.
Allegheny Ludlum is increasing prices for hot- and cold-rolled stainless steel sheet, strip and continuous mill plate products by approximately 3%.
Universal Stainless & Alloy Products Inc. has announced a 4% price increase on tool steel plate products, effective with orders placed 10 March 2003 and later.
Posco, one of the world's largest producers of stainless steel, will hike domestic prices of its products from 15 February.