Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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October 2019 | Stainless Steels


Prices cuts set to arrive in November: American Highlights


Despite a slight 0.9% month on month rise in nickel prices through October, the 15.4% drop in iron costs will see the surcharge for grade 304 stainless move down in November, falling about 0.8% from October to an average of $0.7503/lb.

US stainless steel prices to see an across-the-board decline
Even with nickel retaining most of the gains made since mid-2019, a big drop in iron prices will see surcharges, and therefore transaction prices, fall in November for all the major grades of stainless steel, with ferritic grades to be hit the worse. This comes as base prices continue to hold steady with little chance of moving upwards anytime soon given the very short domestic mill lead times – only four to five weeks by our estimates.

Despite a slight 0.9% month on month rise in nickel prices through October, the 15.4% drop in iron costs will see the surcharge for grade 304 stainless move down in November, falling about 0.8% from October to an average of $0.7503/lb. It is faring much better that other stainless steel grades, however. With molybdenum prices also falling 4.1% over the past month, surcharges for...

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