Sahit Muja: Japan's economic growth and jump on car sales rise demand for metals.
Japan's economy the world's third-largest economy is set to grow by 2.2. in 2012. Japan's industrial output will rise 3.6 percent in the current fiscal year and 3.2 percent in the next, according to the poll of 27 economists conducted in July.
Japan's crude steel output rose rose by 4.3% YoY to 27.5 million tonnes .
Albanian Minerals forecast increase in demand for special steel ingredients ferrochrome, nickel, chrome ore, iron ore, manganese in Japan during the Q3 and Q4 in 2012.
Albanian Minerals forecast that demand for special steel products in Japan in the quarter Q3 and Q4 is estimated to be:
For domestic sales 2,300,000 tonnes, for exports: 1,200,000 tonnes, up by 2.5% in domestic sales, up by 2.4% in exports.
There are positive signals in Japan in ferrochrom, nickel, copper, silver and aluminum consumption growth from strengthening of auto sales.
The demand for stainless steel from the automobile manufacturing sector would increase. Japan's domestic new car sales in the period from January to June 2012 jumped 54% YoY to 2.95 million units, the highest in six years.
Domestic passenger car production surged 60% from a disaster hit low 2011 to 781,340 units in May 2012.
Demand for stainless steel in Japan is forecasted to also increase from domestic sectors through to the second fiscal half
Indian silico-manganese price is at $1,200/ton CIF, up $40/ton or about 2% this month . The price for charged Chrome ore, high - carbon ferrochrom in Japan, US and Europe is $1.25/lb Cr .
For Q3 shipments to Japan of low-carbon ferrochrome offered prices is $2.10 - 2.16/lb . Chinese ferro-chrome remained essentially flat above $1,300 per metric ton. The price of Chinese ferro-moly continues hovering below $22,800 per metric ton.
The price of 304 stainless coil rose by 1.1 percent. The price of 304 stainless steel scrap gained 1.1 percent as well.
The price of 316 stainless coil remained flat $4,700 per metric ton. The price of Chinese 316 stainless steel scrap remained steady north of $2,600 per metric ton.
Nickel at $15950 per metric ton.
President and CEO
Albanian Minerals, New York