February 2018 | Stainless Steels
US stainless steel prices to continue rising in March: American Highlights
Based on the Commerce Department report, which Trump has until April 11 to act upon, stainless steel will likely be included in the steel Section 232, especially if the president decides to take broad-based action.
Surcharges continue up on nickel-containing stainless
US stainless steel transaction prices will continue to push upwards in March with increases in both nickel and molybdenum boosting alloy surcharges for austenitic grades. Nickel prices have jumped up 8% over the past month and could continue to move up, along with other base and minor metals, this year, helped along by optimism about future demand for its increased use in electric vehicle battery technologies being developed. While this could be premature, given that the true push for electric and hybrid vehicles is still several years away, it has resulted in increased speculator interest. At the same time, increased global demand continues to bolster molybdenum prices, which moved up 10.4% over the past month.
As a result, US surcharges for austenitic stainless steel are moving up again in March, with the biggest rise an average of 9.5% to 94.61 cents/lb. ...
ACCESS RESTRICTED
You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.
SUBSCRIBE
Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as its published.
Subscribe