January 2017 | Stainless Steels
Prices keep on rising but outlook less certain: European Highlights
Given that we expect ferrochrome prices to ease from their recent multi-year highs as well as the year progresses, along with the cost of iron units in the form of scrap, it may be the case that alloy surcharges for February represent the peak for 2017.
We highlighted last month the increase in producer pricing power that had taken place during 2016 in Europes stainless steel market, with producers able to push through cumulative base price increases of some 40/tonne last year despite consumption remaining relatively flat. This year has started in much the same vein, with Europes stainless steel producers taking advantage of market dynamics to push through yet further base price increases amid a backdrop of rising alloy surcharges as well.
To be specific, base prices on the most common austenitic grades of stainless steel, i.e. 304 and 316, have been pushed up by some 25/tonne since our previous tracker, the largest monthly jump since early 2014. They are now at some 1,140/tonne for grade...
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