According to industry insiders, it is predicated that 2014 will be slightly better year for stainless steel, in both business volume and profitability, compared to 2013.
Market participants have reported that activity has been coasting along the prolonged bottom in the business cycle that the situation is hopefully close to its end. For instance there are several positive economic indicators supporting this theory such as positive GDP growth, increased manufacturing output and decreased unemployment.
MEPS International, the independent steel industry analysts, anticipates the crude stainless steel production output to grow in all traditional stainless steelmaking countries and regions including the United States. This would be the first case of this since 2010, however, output in China and other emerging countries is set to steadily increase at a faster rate than in the West.
Despite the enduring global surplus, nickel values are expected to rise in the early part of the year, but ferrochrome prices are expected to rise even further. Stainless steel suppliers have yet to report signs of any significant upturn in order tonnages, but the belief persists that this year will hold moderate increases for the industry.