Low grade stainless steel hurts Thai market

Low grade stainless steel hurts Thai market

According to recent market reports, users of stainless steel products have been deceived by imports of low quality products. Some consumers in various industries have complained to the Iron and Steel Institute of Thailand that the stainless steel products they purchased from the market were low quality. It is also reported that importers are selling products made of low grade of stainless steel from the same price as that of the high grades. Furthermore, buyers are not informed that they are different. As a result, these products give damage to the buyers' works. The price of nickel amounted to approximately $18'000/ton last month. This figure was around $4'000/ton in the fourth quarter of 2003. This increase in nickel price puts pressure on operating costs due to nickel uses as raw material in stainless steel production. In addition, some low grade products imported from India, Taiwan and Indonesia are being sold 40% cheaper than Thai products. All these factors give offence to stainless steel consumers and market. Therefore, Thai Stainless Steel Development Association and stainless steel manufacturers have congregated to protect consumers.