January 2012 | Stainless Steels
Stainless surcharges, base prices are on their way up: American Highlights
Universal Stainless plans to add two more vacuum arc remelting furnaces by the fourth quarter to satisfy growing demand in its premium melt sector - primarily serving the aerospace and energy markets.
Mills and service centres alike are pleased that US stainless steel prices are strengthening. Not only are February raw material surcharges – the major component of domestic transaction prices – rising at an even stronger rate than had been anticipated, but, after dragging its feet at first, the market has accepted more or less in its entirety an increase in base prices for flat-rolled 200-, 300-, and 400-series stainless steels in January by cutting the functional discount on prices by 4 percentage points, as announced late in November. In addition, at least two of the major stainless producers – ThyssenKrupp Stainless North America and AK Steel – are calling for a further base price hike in March to be achieved by cutting the functional discount by another 2 percentage points.
While the first round of base price increases has been successful, it has been so because all the major producers,...
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