Changing nickel and chromium stainless steel markets - a review

for chromium and nickel units. Stainless steel is a generic term for corrosion-resistant alloy steels containing 10.5% or more chromium. In the AISI (American Iron and Steel Institute) classification of steels, stainless steel must contain 10% or more chromium; in the BSI (British Standards Institution) classification, it must contain 11.5% chromium or more. The addition of 10% chromium to a steel gives corrosion resistance in mild environments; additions of over 18% chromium give protection in more aggressive environments in the chemical, petrochemical, process, and power industries. Nickel is mostly added to improve the formability and ductility of stainless steel. In 1960, nickel demand in stainless steel was 219 kt, accounting for no more than 34% of the global nickel demand. This grew to a 68% market share in 2017, accounting for approximately 1470 kt of primary nickel. Alloying with these elements brings out different crystal structures in stainless steel to impart different properties in machining, forming, and welding. Roskill Pariser presents a market review for the nickel and chromium stainless steel markets, with historical data as of 19 January 2018. The data presented in this paper is sourced from Roskill Pariser Steel Alloys and Roskill Information Services, unless stated otherwise. It includes certain statements that may be deemed ‘forward-looking’. Although we have made every reasonable effort to ensure the veracity of the information presented, we cannot expressly guarantee the accuracy and reliability of the estimates, forecasts, and conclusions contained herein. Accordingly, the statements in the presentation should be used for general guidance only.